It's amazing what you can do when you single-mindedly neglect your other responsibilities (translation: I've got a lot of grading to catch up on). In this case, what I have is a first draft of the grant proposal. The project description is 22 pages of 12-point type (as opposed to the NSF limit of 15 pages of 10-point type), double spaced. It will eventually get edited down to the right size, hopefully without me having to reduce the point size (after all, it's all about making things clear and easy to understand). The final organization even came out pretty much the same as I anticipated. Since I started out writing this by outlining the plan of what I wanted to do, the budget is worked out, and it can now be circulated within the campus, at least, for comments and approvals. Locally, the most important things are what I commit the university to support (things like course releases, or teaching specific courses in specific time frames) and what my budget looks like (since the university assumes fiscal responsibility).
The feedback I get, including two or three letters of support, will figure into the editing of the project description. Then, there will be the final "compression" down to 15 pages.