UPDATE: You're going to have to wade through a few posts of crap before you get to anything that looks good, but as of March 7, this is the best I've done:
Hi folks. I'm a new member here, and have enjoyed looking through this sub-forum more than any other part of the site. There are some amazingly talented people congregated here.
...Which is why I'm a little embarrassed to share my learning process with you. I'm slowly, slowly attempting to make a small game of my own, and by far, the most daunting part is animation. Tonight, I decided to start learning by trying to animate the key frames of a walk cycle. Results were not that great, but I have made some process. At midnight, I had never animated a walk cycle before, and now I've made several tries at it:
I hand drew 1/2 of the walk cycle just to sort of get my bearings. Very very loose doodles here, and throughout my other attempts below as well.

Toned down the extreme frame where it looks like the character looks like he's about to break into a run, did a doodle-over second draft, and tossed on some color in Photoshop:

With this version, I was also trying to deal with the physics of the body. This character has a bit of a paunch that I wanted to see bounce a little when he took steps. This is me trying to get my head 'round the effects of gravity and inertia that happen as we take steps. Here's a version with a faster framerate:

The arm swing and gait are still a bit extreme here. After this draft, I thought it might be helpful to break things down to an abstract level, and did a sticks n' shapes version, making the swing and gait not so exaggerated:

Still lots of issues, but I think it doesn't look too bad if you cover up the stick feet (wish I'd done the joint on the ball of the foot). I also think that the figure should lean forward slightly.
I've found a number of the tutorials linked in the sticky'd post useful, and I especially wish the Biomotion lab app allowed you to advance through their motion capture walk cycles frame by frame. I'm still looking around at some other resources, and hopefully will find some time to improve later this week. I feel like being able to do something like this is a hurdle I have to clear before thinking seriously about making a game of any length.
Anyway, thanks for checking in on my learning process so far. Hope you aren't too horrified!