That setup is ingenious! Maybe it would be a goog idea to experiment with moving the lamps from the top of the frame to a side or another to have light coming in from an angle and not directly from top. I have been thinking about what could have been the lightsources and all the reflecting areas (white walls around, etc.) to have
this photo as an outcome.
I am saying this because when looking at your second picture you have light coming in from top or maybe from two sides at the same time -
here is what I am talking about.? I don't know what could have been the exact setup but you have reflection on the top and the bottom of the forearm either. That is why I have said that maybe moving the lightsource around could decrease the amount of reflection or perhaps put it down to only one side.
I hope that you will not take these offensive or as a negative criticism, I do not wish to say anything bad just telling what my questions / thoughts are. I am waiting for your reply as I am sure you will provide many more plans, setups and thoughts that are extremely useful when taking pictures of our cues and cases.
Edit: I have done a search on your camera. That is a good camera but if you are serious about taking more detailed pictures I'd recommend purchasing a super-compact camera. Nowadays I use my girlfriend's FujiFilm S9500 which is an extremely good camera and is getting cheap on e-bay. my reason for saying this is because these cameras can take supermacro pictures from 1 cm and have a better CCD, bigger objective, RAW picture format (which is better than in quality than JPEG), etc... The point is that you can take even more detailed pictures in better quality with such a camera.
The very best extra of this camera is that you can manually adjust both the zoom and the focus with extreme accuracy so you will not have to "play" with the zoom buttons to get exactly what you want and you can set the focus wherever you want - it is important for example when you'd like to catch the rings above the wrap and would like to have the wrap and the forearm shady.
While using your camera I recommend using the lowest ISO setting (it is 50 on yours which is very good) so that you'll have minimal "noise" in the picture.
Bah, sorry for being this long...