Hey, cool post, thanks. Good idea of including the 'full template' in the post. When you start to make the theme, you'll realise that the scope is really not that big. Most of the content is variations of a button, most of the size of the template comes from the robustness of being able to have different kinds of buttons, sliders and whatnot for different situations / applications. I'd say that total conversion should take a full days effort if you have the idea and are good with photoshop. Smaller changes (say... you just want to change the home screen borders) should take one to two hours. Or less if you have the graphics or you are just nicking them from some other source (I don't suggest anyone to take any copyrighted material as a source for the themes).

I hope this will help people find the surprisingly good theming capabilities the device has. I'm really looking forward to seeing what people are able to create.

Oh, and on the psd file, notice the top layer that is not toggled by default. It contains the 'cut' marks, so toggle it on when you want to see what will be cut and where.