doodlemonger.com Logo Concept
Armed with this new knowledge, I set about practicing the effect.
I never thought about how one goes about achieving a fully 3D effect on an icon until yesterday, when I found Bartelme Design and looked at his article (in German, hence looked at and not read; thank him for the screenshots) on the effect. The shadow is nothing more than a layered ellipse with an elliptical gradient fill. The reflection is the object vertically inverted, stacked behind the ellipse with its opacity decreased and what I assume to be a clear to white elliptical gradation stacked on top of it. Armed with this new knowledge, I set about practicing the effect.
The end result is pictured right. Click on it for a larger version.