One of the more popular text effects to use in Adobe Photoshop is chrome text. You can search for hours to find the perfect Layer Style to make your job easy, but you may never find it.

Instead, try this Metal Text Tutorial over at PSGallery.co.uk. The tutorial is easy to follow and can produce fantastic results with a little experimentation. From personal experience, I've found that your results will vary widely depending on the font you choose to use. Some areas to play with are the bevel settings and variations. While the tutorial does give you exact settings to use, you will most likely find that they don't produce the desired effect on all fonts. Play around with them to get it to look the way you want.