Demon's Howl by Shawn Cheng
On the Road of Knives is a collaboration website of Zak Smith, Shawn Cheng, and Nicholas Di Genova. The guys took turns drawing successive illustrations of fantastic and gory creatures - the storyline that emerges may be a little difficult to follow, but the art sure is marvelous.
Previously on Neatorama: The Superest by Kevin Cornell and Matt Sutter (still going on, though at a slower pace than before)
PS Nicholas Di Genova is featured in blogTO's gallery of emerging Toronto-based artists. So far they've got 50+ artists with their profiles and examples of their work - Thanks Tim!