I've been trying to work on specular highlights, and I think I'm there, but might just have this completely wrong. Just looking for a little feed back please 
I don't quite think you've got your terms straight here, but I'll try to help. Ordinarily, specular highlights are very small areas in an overall image - usually what you might call, but are not literally, points of light which read either 255-255-255 or close to it. In any case, your picturte might have a few actual specular highlights, but I would guess that perhaps you are actually referring to the very large highlight areas in your shot and wondering how they look and how they could be improved.
Unless your image could be thought of as "high key," which this image is clearly not meant to be, there should not be very large areas of 255-255-255 (or very close to it) in it, because then these are just commonly defined as "burned out" and contain no useful color or detail. Your large broad highlights in this image are indeed burned out for the most part and are covering up way too much of the main subject - the wine bottle - to make what most people would feel was a good image. Also, your highlights are not connected everywhere where they should be, and some of the edges of the highlights are ragged looking.
The previous poster's suggestion to use black boards to reflect in the bottle is a good one. Also move your light reflectors (or diffusers - whatever they are) more towards either side of the bottle so that the bottle is not so frontlit. Furthermore, you might want to experiment with graduated flags or other similar techniques or devices to gradually "cut" the light output of the main sidelights at their forward edges, leaving a hard 255-255-255 rimlight effect around only the very edges of the bottle as well. Also rmember that, on the wine label itself, you want to show some highlight (in your example at least), but you also want to easily see the detail and color in it as well. Better controlling the highlight levels, size and shape is what you need to do.
In general, experiment, experiment, experiment; move your lights, flags, cutters, reflectors (both black and white) around quite a lot to preview the different possible effects; extra digital captures cost you nothing, so you can try lots of different scenarios without a care in the world. Last, check for flare, detail sharpness (micro contrast) and color balance, all of which you could improve upon in your posted example.
Regards,
David
