The image is mainly created in Illustrator then additionally manipulated in Photoshop.

Guidelines: http://www.online-photoshoptutorials.com/2008/09/creating-a-retro-grunge-poster.html

Sources:

for texture: http://www.pxleyes.com/images/users/m/mqtrf/419/fullsize/4a7087f650c63.jpg

tutorial guideline: http://pshero.com/photoshop-tutorials/graphic-design/antique-ace-of-spades

pretty much only used CS5 mixer brush tool.
Wish I had a wacom tablet (hand hurts). ;P