Great post Mari:
The only thing I would add is a couple of words about glazing and this method.
To most, glazing is a method of mixing a transparent or semi-transparent color with which to tint, alter or modify another color - in other words, in most recent history, glazing has been taught as a special effect.
With the Venetian method, your intent when glazing is to let the underpainting show through and provide your detail. So the glazes build up like thin panes of colored glass, with the underpainting showing through them. For this reason, your underpainting is usually taken to quite a finished state.
The most recent proponent of the Venetian method, Frank Covino, teaches that if you only glaze over this technique, you don't get your best work. Thereby, he recommends analyzing the work and determining where you will glaze and where you will paint opaquely. As an example, here is a copy I did of a Holbein painting:
http://www.fineportraitsinoil.com/ThomasMore-Done1.jpg
You can see the drapery in the back was accomplished with glazes, and the fir on his cape is all glazes, as is the velvet of his sleeves. Again, the detail comes from the verdaccio.
Here is an in progress where you can see the verdaccio still on the face and hands:
http://www.fineportraitsinoil.com/Th...eprocess70.jpg
I paint flesh opaquely. This is because there is so much white in flesh that glazes just don't do skin justice. So I painted the face and hands opaque, but very thin as to let some of the gray-green show through:
http://www.fineportraitsinoil.com/TmoreHands.jpg
Hope that helps to clarify.