Hi Cody,
I agree with Marshall's observations. Also, the reflection seen along the pin's length is a problem.
Even illumination from all angles is a necessity.
Your best investment would be in a tent or dome. They can be had for as little as $50 at B&H or elsewhere.
You don't need expensive strobes to illuminate the box, 3 small incandescent desk lamps will serve you well as hot lights.
I shoot most of my company's catalog images (I'm no pro, but when the guy that signs your paycheck asks...you learn quick
)
For simple parts, most of your efforts will be in Photoshop.
My workflow is pretty easy and straightforward.
1. Set your camera's white balance manually (you want accurate color for the object).
2. If the part isn't white, shoot it on a white b/g. If it's white, shoot it on a off-white b/g.
3. In PS, select the b/g, invert the selection and copy to a new layer with a transparent b/g.
4. Edit levels, color, etc as necessary.
That's it. Here's some examples of products I had to shoot just the other day.
No Pulitzer prizes for creativity, but the boss was happy:
http://www.lightsimage.com/forum/JA3_3000-web.jpg
http://www.lightsimage.com/forum/JA3_2997-web.jpg
http://www.lightsimage.com/forum/JA3_3001-web.jpg