Look, We're Handy! (or crazy)

Jacqueline and I have been planning to renovate our bathroom ever since we bought our house two years ago. We've been back and forth between hiring the work out to a contractor (smart) or doing it ourselves (...). Well, today's the day for action. We woke up this morning and took a hammer and steak knife (yeah, we used steak knives) to the drywall and made a huge mess in the tub. Yes that is our bath tub in the above image. We're going to attempt to install the cement backer board as soon as I get back from Sonic with a Diet Coke with vanilla. We hope to have the whole thing done by tonight because Jacqueline is an optimist and I believe in miracles.
I'll post some pictures of were we're at when we decide to give up later.