It's a black nail polish with very fine red shimmer. Or a very very dark red. Absolutely love this colour. Despite how dark it is, even indoors at night, you can tell it has a red soul and doesn't look completely black.
This is two coats with base coat and top coat. It went on a bit thick, and the brush is smaller than normal OPI brushes. But overall, the application was good. All the mistakes are my own. Sorry about photo quality though. I suck with a camera.
Edit 1/6/2010: Since I'm a bit of a perfectionist, I went back and redid the swatch for this. Still two coats but no top coat this time around.