Here is a video of me painting Iron Man in Photoshop. Again its probably pretty fast but you get the idea, comments and critiques are welcome!!

I sketched it out with plain black line than shade it in to get a feel of the volume. After I am satisfied with the volume I went in and painted the details including the reflections. Once in awhile I will tone down everything using the level tool so I can add more darker shades and brighter highlights because I often get carry away with using too much highlights and shadows. You will notice that I did not really color it, instead, I changed the color using gradient adjustment, I colored one layer to red and a second layer to gold because thats pretty much all the colors he has, than cut it out so I get two different colors. Than I use dodge and burn to bring out some of the back lights. So as you can see, you do not need to paint everythin, Photoshop can help you get to where you want faster.