Inked it out and hand a grand ol' time erasing the colored pencil sketch lines... this phase is now finished. Now it's on to color comping it and thinking of a painting style that would both enchance and add contrast to the line drawing. W00T!
As far as digital conversion, converting it into vector lines and tweaking the lines to be cleaner and smoother is definitely going to be a bitch. But hey... a fun bitch.
===UPDATE // 27Aug2009===
So, with Kumo's assistance, I've got the damn thing vectorized... and lemme just say that it looked so much cleaner as a sketch. Anchor points, handle bars, and vector paths are my enemy this night... and they have gathered against me en masse.