Gabagoo i think it was released a pack for old dod with low poly player models - can someone do one for dod source?

Im running a low spec rig and wanna see if player model count reduces cpu load - cheers in advance

I'm sorry to say it but probably not. As Source is designed to run with hi amounts of models and a map being filled with plenty of them, reducing poly counts on players will not bring a huge increase in performance.
Decent graphics cards these days retail cheap and a Radeon 9800 Pro 256mb, which easily plays Source can go for $125US. A bargain if you ask me and useful if you want a good graphics boost.