The Great Wave Off Kanagawa (1)

Alright, so my most recent project is based very closely on The Great Wave Off Kanagawa (one of my favorite pieces of art ever.) For those of you who slept through your art history class, The Great Wave Off Kanagawa was the first of a series of 36 "Views of Mount Fuji" by Hokusai around 1830. Basically, I'm trying to re-create a version of this amazing piece of art entirely as a vector illustration. I don't feel QUITE so bad since it's widely estimated as being one of the most widely reproduced works of art ever.
The original
First 'work in progress' image
Most recent 'work in progress'
It's worth noting that the colors I'm using are placeholders only. I think the only way to get anything approaching a decent result will be to use a very similar process to the original, that is, multiple layers of color, etc. Also, ignore the square in the middle. I could remove it, but there's no real point for these purposes.

[Edit]
Okay, this is the most recent one as of this second.