So yesterday I finally got to try it. And, as with most things in knitting, it was actually much easier than it looked. Here's my first attempt:
It's pretty slow going. I'm usually a fairly quick knitter, but I have a feeling that it would be very hard to go back and fix any mistakes, so I'm taking it pretty slow. I think it's going to be very pretty eventually - but as you can see, I've got a lot of beads to go!