There are quite a few logos out there which have been done unmistakably in Photoshop. A lot of them are great and colourful – but a lot of them also won't work in 'real life'.
They look fantastic on screen, but as soon as they have to be printed, let's say in a really large size ( or a really small one), there is trouble ahead. They are either too complicated and detailed, which would cause problems in a smaller size or the master file is just not big enough to be printed in a large size.
That's why I prefer and recommend to create logos in a vector based application like Illustrator or Freehand. You can still recreate a 3D look with gradients. There won't be any problems scaling vector based logos at all.
In this case above we created a logo with a stainless steel look, including a 'call for action' button which transforms the "O" into a kind of interactive looking element (well ... it will later become interactive in some places, on the web, for example).
As this logo has been created in Illustrator as a vector based file I won't have problems printing it on a ball pen. Or a lear jet.