I made an example file for someone last week, it may help you:
Main settings are in the Mirror transparency tab in the material buttons, you can mess with the reflectivity there.
It’s also useful if you use an angular map in the world buttons, this definately helps with reflections – You can grab some of mine here:
It is correctly set up in the .blend file posted above, so it’s just a matter of using the same settings in your own file.
Also make sure that the “Ray” button is turned on in the renderbuttons (but Im fairly sure you did that already)