9. On your newly made layer (all of the merges), apply these blending mode settings.
Drop shadow:

10. Gradient overlay:

11. Stroke:

12. For the top layer that was excluded in the merging, apply a color overlay of #ff0000 and a bevel & emboss with a size around 40px.

13. Finally, you may add a subtle background gradient. Make this new layer for the gradient just above your background layer (or you may give the background layer itself a gradient).

14. There you go! Quick and great looking 3D text. I hope you enjoyed this tutorial.

Get the final product: 3d-logo-13.jpg