Quote (ericswanson_19 @ 21 Nov 2012 21:50)
you won't get a good render unless you physically trace it, whether you pentool it, lasso it or add a clipping mask and paint it away. the 3D effect and depth of the letters going back is covered in black shadow, so eyedropping or color selecting won't make up for it.. maybe adding a clipping mask and subtracting the black and then paint back in the depth of the letters.
Actually if you look at that current render, it is noticeable that the material is reflective and depending on what color background you have to it, it gives a look that the background reflects the color on text. pure black shadows would look fake in that matter.
I think it did a good job, i personally have never used channels to render something.