This can create a pretty cool black metal/chrome effect for text.
Step 1
http://www.gfxvoid.com/tutorials/blackmetal/1.gif
Create a new image, and add text to it. I used a render my friend made for the background. Double click the text layer, select drop shadow, and use the above settings. Select inner shadow and use the default settings.
Step 2
http://www.gfxvoid.com/tutorials/blackmetal/2.gif
Select Bevel and Emboss, and use the above settings on your current text layer.
Step 3
http://www.gfxvoid.com/tutorials/blackmetal/3.gif
Select satin and use the above settings on your current text layer.
Step 4
http://www.gfxvoid.com/tutorials/blackmetal/4.gif
Select Gradient Overlay and use the above settings on your current text layer.
Step 5
http://www.gfxvoid.com/tutorials/blackmetal/5.gif
Select stroke and add a 1x outside stroke by using the above settings.
Final Product
http://www.gfxvoid.com/tutorials/blackmetal/7.gif
Not bad, to create a cool dark chrome/metal text!