I finished a draft of a new picture book at the end of 2011, and I've embarked on revisions in the new year.
Let me say this about that: It's tricky.
Which reminds me that I will be on faculty at the NESCBWI Conference this April, with a presentation entitled "It's Tricky to Rock a Rhyme: Real Tips You Can Use". And yes, I totally swiped those first six words from Run DMC.
(Check out how young Penn and Teller were there!)