I’ve forgotten this technique twice, so I’m writing about it in the event that I forget it again — this way I’ll have some place to look it up in. :)
It’s basically just a simulation of a pencil sketch. It’s not perfect — as you’ll see in the image below — but it’s a start.
Desaturate the layer.
(Image->Adjustments->Desaturate)Duplicate the layer.
(Layer->Duplicate Layer)Invert the colors of the top layer.
(Image->Adjustments->Invert)Set the blending mode of the top layer to Color Dodge.
Gaussian blur the top layer.
(Filter->Blur->Gaussian Blur)
The only part that really requires any thinking is step #5, where you have to decide what level of blur is good for your image.
Here’s a before and after:

If you want to get a woodcut effect, open Image->Adjustments->Levels and move the black slider most of the way to the right, like this:

The final result:

[tags]Photoshop, woodcuts[/tags]
Throw in your two cents