Here's me last demo reel for 2009.
I use Zbrush, Maya and Photoshop.
Dragon : I create a base mesh in Maya then sculpt in Zbrush. After that I do a lighting and rendering in Maya then paint it over in Photoshop.
Knight, Kitsune : Basiccly it the same work process but I bake a Normal map(using Xnormal) and then work in Maya for retopology. Most of texturing I paint in Photoshop but I baked a material from Zbrush to texture and use them as a base texture. This process save a lot of time and can help guiding when painting a texture.
Gnome, Mask guy and Ship : Modeling in Maya and Texturing in Photoshop
Cyclop : Modeling, Rendering, Lighting in Maya and Texturing and paint over in Photoshop.
Check my other work at www.zebracan.com