Love the composition. Photoshop a lot? Textured materials will increase realism. Great stuff. My only comment-a bit too much polygon count for the final view that you are producing. If the final view is that far you probably have been better off with the render time if u use mappings, displacement and bumps.

Nicely done. Post it up on youtube when you finish the animation. Prop set for an animation? or just cam flythrough? How long does a frame take?

Agreed - vray is probably the best plugin for lighting for now. All the GI goodness in less time....

The image is just superb. Probably you could cut down on the camera correction a bit. Some of the elements looked stretched in terms of it's perspective .i.e : distorted round elements like your carpet and lighting looks lop sided.

I am thinking that this is a living room, so some natural daylight in the space would make it look better. Try to decrease glossiness factor on your reflective materials ( like that polished bronze light fitting ) so that you could hide the room reflection a bit. It would help to hide the rest of your actual room.

The wood texture on the sofa nearest to you could be further repaired with proper UV Map. Wood grains usually follow the length of the wood. Some depth of field would also boost up the items that you are trying to focus on.

Overall - one of the best i saw so far in the thread.

Are you from ID? or computer graphics background?