I don't know what happened with your reel but I just picked up some advice on modeling reels for the games industry from a friend of mine who worked in this field for years and I remembered this thread so I wanted to share it with you in case you're still working on it. What he said was this:

1. You MUST show wireframe of everything and do it well. If not the person who's watching it can not understand how you modeled it doesn't matter if it's low poly as it can still be modeled wrong.
2. Studios want modelers who can do characters and hard surface objects, it is really important you display both these skills in a games modeling reel. This field is one of the most competative so you basically don't stand a chance of landing a job if you can't character model. I've picked up the same thing from Jay who's in the movie industry as well and is a great character modeler but still does hard surface to be able to compete better. And I have not yet come across anyone who works in the industry who can't do both even if people are usually much better in one of these two fields. Still I keep seeing modeling reels without any characters so it's made me think it's one of the main reasons for why their reels get passed over, as if you had the choice the better man for the job would be someone who could do both.
3. If you have textured models it is important you show the textures with the UV map. All they care about is how your polys look and as UV layout is part of the job your UV maps would be more relevant than the actual textures. Nice lighting and renders is always more visually appealing but it's not important in this case, what they will look at is how well you understand geometry and laying out UV's well would be relevant to your reel while the textures themselves really wouldn't matter as much.

So keeping it to the point as was mentioned above My friend mentioned as well that when he worked with games (he works in advertisement now) they always had an abundance of modelers and what they really needed was animators. He ended up becoming an animator instead for this very reason. Another thing he said was that they used motionbuilder a lot where he worked, so it wasn't riggers as much as animators that were in demand for games at this time. I don't know how well this last thing applies today but it's something you might want to research to get more of an edge.

Cheers,
Nilla