360° Render Sphere
<img src="http://3dartdh.files.wordpress.com/2013/04/330c2b0_render_sphere_gif_2.gif?w=480" alt="" width="725" height="483" />
Instructions:
1-Select the wireframe sphere
2-Click on Bake
3-Go to Layer 2
done
have fun with it.
<img class="attachment-917x917" src="http://3dartdh.files.wordpress.com/2013/04/360c2b0render-sphere-for-blender-by-dennish2010_7.jpg?w=917" alt="360°render sphere for Blender by DennisH2010_7" width="917" height="498" />
The uv of the wireframe sphere
<img class="attachment-917x917" src="http://3dartdh.files.wordpress.com/2013/04/360c2b0render-sphere-uv.jpg?w=681" alt="360°render sphere UV" width="747" height="747" />
<img class="attachment-917x917" src="http://3dartdh.files.wordpress.com/2013/04/360c2b0render-sphere-for-blender-by-dennish2010_5.jpg?w=917" alt="360°render sphere for Blender by DennisH2010_5" width="752" height="401" />
<img class="attachment-917x917" src="http://3dartdh.files.wordpress.com/2013/04/360c2b0render-sphere-for-blender-by-dennish2010_6.jpg?w=917" alt="360°render sphere for Blender by DennisH2010_6" width="751" height="399" />
Actually that's a pretty good idea. It's one of those where I wonder why I didn't think of it.
While not as good as HDR files, it works well enough for most situations and is much smaller in size. And you can use just about any existing blender scene to create a custom reflection map with this tip.
Using blender scenes will give you the ability to customize the lighting as well.
BTW, for those who have a few extra dollars you don't need for Maslow's hierarchy of needs, Flaming Pear (www.flamingpear.com) has a product called Flexify 2 that allows you to use convert photographs into spherical reflection maps and In and out to horizontal cross and zenith plus nadir formats for reflection maps. The cost is $54.00.
Flexify is not as flexible as DennisH2010's idea, but it is faster if you have the right photograph. And for some, time is money.
Flexify 2 also has other unique formats for those of you who are also interested in creating in Photoshop, GIMP or other imaging software.