Lately I have fallen back in love with my water colour pencils. They are so simple to use and with the right paper you can get some great effects. I usually sketch a rough design down first to tweak it, then I put the final version down on some water colour paper. I sit in front of the TV at night and colour in (unless it is a show or movie I have to concentrate on)basically and then grab some water and a paper towel to do the wash.
I usually outline the picture with ink or acrylic paint. I also use acrylics to highlight so my pictures are usually mixed media. The "Albrecht Durer" by "Faber Castell" and the "Derwent" brands produce the best results for me although, I do use the cheaper ones sometimes. It is the old story, You get what you pay for. They are also good for travelling as you can just take a pencil case, brushes and sketchbook away with you. You can just use a cup of water to finish off. Here are some examples of my work, enjoy: