@Shawn Michaels: I use Minwax Polyshades Antique Walnut, which you can buy at any of the chain hardware stores in the US (Home Depot, Lowes, Ace, Sears, etc...).
@Reg & Rog: Dipping usually ambers and darkens the underlying color a couple of shades. So, the pants are straight Bad Moon Yellow to compensate for the darkening.
@Capt. Drill: Mold lines are the bane of my existence. I usually overlook them, and when I do try to fix them, my sanding looks worse. I'll have to get better w/the mold lines.
@Green Dragon: I agree entirely about the close-up pictures; I'd much prefer real blends, shading, and highlights. However, I've not been successful doing things the "right" and "better" way, hence the dipping. That said, the models look better as a group than picked up and investigated individually. But, had I not included those close-ups, I wouldn't have given as accurate a look at "dipping" Ogres as I could.
@Zergo: The gravy look is excentuated in the post-dipping pic b/c dipping gives the models a glossy, "old-school toy soldier" finish. The post-matte pictures show how the matte coat nuetralizes the dip's gloss and provide a look at how the models look close up after the entire process is over. That said, after matte coating, you can keep painting the model for better highlighting, to add fine details that the dip would have drowned out (like tatoos), and address issues w/the dip pooling in unsightly areas.
Here are some leadbelchers that I did on the same day. Dipping has a dirtying affect on white, and I got the same ridging/rusting effect on the metal.
pre-dipping: basic colors
I've got some Ironguts done like this as well and at the same time as the previous pics. I think the Ironguts probably turnout the best. I'll try to up them up later.