Don't laugh at me now.. As mentioned, It's my first time hand-painting a texture.. Still though.. I'm surprised it turned out like this.. thought it'd be even worse.
Anyhow, here's my entry. Just a diffuse, don't think it'll look better with specular and normals really.. and I gave up after 82 minutes, that had to do.
Diffuse (Original Resolution 1024x1024)
How I did it..
Well.. I'm not really sure to be honset.. but I started out with the base-colours. Baked an AO. Started painting in grunge, and continued to paint and add minor details to make ti more intresting. Then went for a more dead/rotten look rather than lively as it originally was ment to be..
That's about it. (Rendered with the Ink/Paint material in case you're wondering.)
Cheers!