I\'ve seen better PS minis but none that used so simple a method. Add a little dodge and burn to add contrast and this could look even better. A friend of mine has been playing with painting minis in PS. He also toyed with the idea of making a contest.
Interestingly I used to do this about 20 years ago using Citadel Combat Cards, a Scanner and my Dad\'s Amiga. I would scan the cards in, in black and white and then use PhotonPaint to colourize them to test out colour schemes. Basically the same thing. Never looked this good though, I think mainly due to PP not being as easy to use as PS.