This thread doesn't break any of the rules for showcase II, Romac, so it'll stay here (though "professional shots" is a matter of opinion, you're right ).
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Well, I didn't read the whole text but I must admit you've some talent for writing. I'll maybe send you pm about that.
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Shot 1: I DO like the geometry as it is a model. Gives you the impression of a real cave. The brick texture in the background looks strange. It's seamless but you can see that it's a repeating texture. The torches....dunno, it's too small to see anything.
Shot 2: Now the texture looks too plastic. Lighting is just wrong because it's emitted by a not burning torch ( ). Cracked wall looks good IMO
Shot 3: Looks like this shall become a special place. If so it looks too empty. Again this seamless but repeating texture. The pool in the foreground is just cut out of the ground. Make some steps! Anyway everything looks a bit primitive like. Add details (statues as models) and something that moves. Empty rooms with out motion are cold and boring.
Shot 4: The nose could need some mesh smooth but I like the model. Very funny.

I don't think this is professional quality (right now) but maybe the code is very good. I'd advice you to find some additional level designers which can work on details.