I have been messing around with the ref maps for some time now, and they are not all that easy or great. I don't think that the current state of the source engines specular system allows for any sort of dynamic ref maps. I mean they look ok on stationary textures (floors, walls, water, yadda yadda). Other wise they always come out too...reflective. The only real way to get them to look semi real is to use bumpmaps...but even then it is tricky.
The main reason they look tacky is because cubemaps do not make transitions pretty. Sometimes the cubemap of a light area will overlap into a dark area and then your weapon is glowing. When moving there are sudden switches in the reflection and it is very distracting.
The only weapons I have succesfully applied ref maps too with little or no problems is the smoke nade, thompson, colt, and parts of the springfield. Wood is tricky because of the way it reflects in real life, and by my luck so far it cannot be replicated in Source. Hopefully we will see some advancements in that system soon.
Here is what I did with the colt...If you would like a hand, I am willing to do some help.