Love it, i've been learning C4D (Cinema 4D) to make my logotype 3D, got it all sorted.... well i did have before i lost the file when my mac died.
Just need to learn how to do lighting a bit better, then i'm set!
And if Cinema 4D is a bit outside your budget range there's a really great little program called Xara 3D that allows you to do 3D letters and then import them as PNG's into Photoshop if you want to add texture etc.
Adam if you were using 3dsm i'd tell you to use global illumination and then just light tracer for the render, its what I use for all my renders and you dont need to worry about lighting so much, not really sure on c4d though so cant help
C4D has GI on it, it's what I used on my design before, but there's another option (which i can't remember the name) which gave it another look to it, i'll have to reinstall and re-design it once i get my macbook back!