Right-click a face > V-Ray > Create Material. You would rename the material (e.g., "Floor_Oak_Glossy") and start tweaking reflectivity.
Nostalgia can blind us, so let’s be honest: 1.49.01 had significant flaws. vray for sketchup 1.49.01
V-Ray 1.49.01 introduced a procedural Sky model based on atmospheric scattering. By linking a V-Ray Sun light to a V-Ray Sky map in the Environment slot, you got automatic sunrise/sunset colors. The sun’s angle determined the sky’s hue—from bright blue at noon to deep orange at dusk. No more manual gradient backgrounds. Right-click a face > V-Ray > Create Material