I made that one a while back with i believe Vue6 (Could be 5 but i' m not sure)
I used a HDRI map (This one is delivered with Vue)  and global radiosity . If i remember correctly it was plain " final" quality or maybe Broadcast.

Most people will tell you to use " user settings"  because the default settings are not that good.
Actually it doesn't matter as long as it suits youre result.

Tip:
Make a simple scene, (because of rendertimes) and try different settings, play a little with the quality sliders, do some testrenders.  When you are settisfied apply that to your final scene and see if things improve.

Good luck!