Well if you really need to un-subdivide a mesh like the above, maybe kubajzz's unsubdivision script might help (not always a guarantee, but here it is:
http://an8.the-meadow.net/Com/ASLTopic/unsub.zip )
Are you familiar with ART and its attributes? (
http://www.anim8or.com/download/preview/art_raytracer.html)
Maybe after ART rendering with attributes at the eye material like i.e. class glossyreflector, Ks of 0.7 (<--play with this one!), roughness of 20000 or so could make a more realistic effect on the eyes. Also try lowering the diffuse and/or ambient and raising the specular, and making the eye bulbs
slightly curved (to make a wet shine effect).
There are a lot of things we can do with rendering, but this is a lot of try-and-error. Although I think it's worth to familiarize with.
[EDIT] Hm, I think I'll try making some tests myself by applying a white texture on something and I'll tell you. I'm also curious

[EDIT 2] Whoa, mistake. Keep the diffuse near 0.9-1

I'll do some more tests.