I've been working on this one on and off for about 2 weeks now. Getting smooth surfaces with the Gradient Mesh tool is relatively easy, but highly textured surfaces become giant pain; keeping track of where all the wrinkles fold into each other took some serious thinking. Every part of it was done using the Rectangle Shape Tool and Gradient Mesh (Except for the watermark).
Download the JPEG to get the full view if your interested in seeing the details.
I have no Idea how long this one took...
Wacom Intuos 2
Illustrator CS 5
Rectangle Shape Tool
Gradient Mesh Tool
View the Wireframe Here:[link]
Original Photo can be found here:[link]