Nice work. Your render times are probably because of everything is so reflective (shiny), but it could be many thing (computer specs, render settings, etc.). The image is quite bright but that would be somewhat correct with white on almost all surfaces. The spots are due to your lighting subdivisions being set too low. Try turning those up and also make sure under "global settings" that your raytracing secondary bias is set to .001 and not 0. This will also help clear some of that up. Overall nice work it just needs some attention to the lighting.
Scott