I can't help you with the node setup, but I can say that between the two I prefer the original one. :)  Might be the "Oh Shiney" thing coming into play though. LOL!  The new setup reminds me more of an antique gold.

As for the reflection color, wouldn't that be a blend of the color of the metal plus whatever colors it picks up from the surrounding surfaces, and thus your setup of using the metal color would be correct.....or am I thinking about this the wrong way around? (Probably am...usually do think backwards. ) 

Jan