Looking great man! That process is thorough but tough for me as I get impatient and need to see color immediately to know I'm going in the right direction. When I color my greyscale work, I feel there's something lacking and I end up repainting parts of the final piece, but this looks really complete. The shading for the draping fabric and the rippling ribbon is immaculate.
Yeah, it was a long process, but I put that down to the fact that it was my first time working like this on lineart. Getting the colours the way I wanted them was also difficult. It's easy to get a washed out look in the shades, but I've got a way to deal with that. It doesn't have the pop my colours usually have, but I'm working on it.
Glad you like it man, I went with a similar colour scheme as yourself. Mine is much darker though, as I used a pre-existing palette.
The black and white shading is possibly the best technique I've found up until now. Creating detail is easier when I'm not worrying about colour. I'll be using this more in the future, when I find the lineart to practise on. I'd like to not just continue on characters, but apply it to environments also.