Kent Trammell guides us through procedural modeling and texturing today in this new Blender Cookie tutorial.
Kent writes:
In this free tutorial you will learn how to recreate Arizona's famous "Antelope Canyon" using a strictly procedural workflow: Rudimentary modeling with layers of voronoi displacement modifiers, multiple generated noise texture nodes for bump-mapping and color, believable lighting with Cycles, and final touches with the compositor.
Link