Perferct reflectivity is mostly what computers do, its he unperfect ones that are hard to accomplish. MAke a reflecyive surface material and enable raytracing (of the basic shaders mostly all but lambert and the surface shaders support raytraced reflections). Alos adda a env map for those rays that miss the surrounding objects entirely.
Hivever realistic and perfect arent the same thing for realistic reflections youll need to setup fresnel effects by channeling a facing artio trough ramp to the reflectivity attribute. Se reflectivity on most materials is a function of angle.
Tint is governed by specular or reflected color (depends on shading modell).
And you would meake them wavy by adjusting normals. Usuqaly this is done with bumpmaps but even other solutions are possible. Should have neglible impact on shading speed (after all the normal ias calculated anyway a few operations on top of that is nothing realy).
Raytracing is allways expensiver than pure scanline render, and will allways be. Using mental ray allieviates thsi a bit since its MUCH faster than maya is, especialy if you have memory to spare for the voxeltree to accelerate lookup of intersections.
Using reflection maps are a a fast alternative that dont need rayrtracing but it far less perfect than raytracing. NOte most people couldnt spot a reflection map reflection form a raytraced one, unless osme ovious self reflection is missing.