well, speed of the machine is important. I’ve been rendering 004_Blur.c4d with my Mac quad 2.66 and getting 40 minutes per render (1280×1024). With GI, AO and Caustics turned on it can’t be fast no matter what.
Caustics taken out doesn’t help speed much (a minute or two), AO removed doesn’t help much either and they both add to the image so leave them.
The GI is always expensive in terms of time so that’s got to be the place to tweak. I would increase the GI – Max Resolution unless you just can”t and then make sure your transparent textures (the glass and water etc.) have Generate GI, Receive GI and possible Receive Caustics turned off since GI usually isn’t noticeably different with GI on or off. There are notes on things to tweak for time improvement in the Help. Check out “Speeding Up GI”