My procedures vary a bit as I tend to fly by the seat of my pants - when I take a photo I often have a good idea of what end result I want so it's a matter of how do I get there.
1. film - scan and save as TIFF; digital - import direct into LR2.7
2. if the original is colour I have a look at Grayscale in LR Develop module to get an idea of how a no frills conversion might look. This is just to evaluate the photo. I might also play around with the Point Curve and Tone Curve, as well as Blacks and Contrast at the same time. Then I reset to colour and try to give myself as much information to play with in CS4 for the actual conversion.
3. Open in CS4 with LR adjustments. Create a duplicate background layer and spot, remove blemishes, general touchup. Merge with background.
4. Create duplicate background layer and select AutoTone (and sometimes Auto Colour and Auto Contrast) to see what CS4 does. If this looks promising I may play with the transparency of this layer.
5. Create Black and White adjustment layer and play around with the colour channels to give the b+w colour filter effects I want. Before CS4 I used Channel Mixer for the same purpose.
5a. Take a snapshot as insurance
6. Create a Levels adjustment layer and play around with the tone curve. Vary the layer transparency to get the tonal effect I'm after
7. Create a Curves adjustment layer and play with the tone curve for either the whole image or just part of it. If part, create a layer mask and only permit the changes for the desired part of the image to be visible. I can end up with several active Curves layers, each one adjusting the tone for a different part of the image. Sometimes different Curves layers can be merged.
7a. Take another snapshot if I remember.
8. Adjust the layers using brush transparency on each layer mask as well as layer transparency until I'm happy with the results
9. Make another cup of tea and save the Photoshop file, then turn each layer's visibility on and off to evaluate whether I've achieved what I want and whether more tweaking is necessary
10. Flatten and save as TIFF.
12. Resize to output size
13. Fine detail sharpening by eye, usually start with USM Amount=200, Radius=0.2 to 0.8, Threshhold=0. What I look for is the point just before sharpening artefacts become visible in a print.
14. Contrast sharpening by eye, start with Amount=15, Radius=40, Threshhold=0
15. Realise that a straight auto conversion in LR would have been better all along.
I'll second that recommendation for Martin Evening's books on LR and Photoshop.