True, but if you just bump the contrast down - it will eventually mold everything to a solid gray. Thus everything has the same specular, and it is still quite shiny.

thnx, but i read drew's tutorial, what does he mean by "put it in da alpha layer?" exactly how do u do dat?

Open the image up in photoshop, select Window>Show Channels (if your channel window isn't already opened). In the channel window, scroll to the very bottom and click the last state. That state will come up, and that's the alpha layer. Edit that however you please, and save it as a 32bit targa.