I can show you an example of why I think channels are cool.
I decided a red interior would look pretty hot so I created an interior base channel and made it red and then I did an interior shadow channel and made it dark dark red, then I rendered the seats by selecting the areas and using the airbrush and gradient tools.
Here's the result.
Well this guys interior is actually kinda grey looking in the picture but I thought a slight putty might work for him....we'll see. So all I had to do was double click the interior base channel and change it's color to somethin I thought was cool then double click the interior shadow channel and do the same thing and there it is.
Now...yes you can do that in layers too...sorta but in channels it's cooler...I guess ultimately because I said so, which isn't really a very good example at all. That being said ignore everything I wrote before this.

Here's the latest with the red interior which may be changed to another color, but I won't tell you how.
-Lemorris