I'm pretty pleased with this first test. The feedback is slooooow when I have high quality rendering on with all the bells and whistles. I think if I was going to do this for real I would need a very simple representation of my character to animate with, capture the performance and then render with a higher quality model. (Or I would need a much faster computer.)
Here are the controls that I made for this creature.

Here is a real-time screen capture of my Maya viewport, edited this in Camtasia.
Here is the second test that I created. In this test I captured the motion using just simple shading, this way I could capture the motion in real-time. Once I had the performance captured I put the quality to hi quality rendering with textures,normal maps, lights with shadows. I then playblasted that into this little movie.
Peace-NickZ.