E.C.
it depends a lot on the kid - some kids pick it up easier than others. I have twin girls and one of them caught on to knowing when she had to go pretty quickly but couldn't hold it long, the other seemed to be able to hold it for hours but didn't seem to figure out how to let it out unless she was about to burst! My mantra was what their preschool teacher told me (her 20+ years of preschool teaching and raising 3 kids of her own gave her plenty of personal experience): "They *all* get it when they're ready"...in my girls' case they were about 3.5YO.
The 'bare bottom' technique worked well with one of my girls - I'm a bit squeamish about accident clean up so we started out by letting her play in the kitchen after dinner w/just her shirt on and her potty chair nearby. I've heard other parents say they've let their kids do this in the backyard in warm weather.
My other potty training motto is "every child is different, and there's no correlation between the age at which a child potty trains and either the trainer or trainee's IQ" :-) (I know kids who were reading before age 3 and didn't potty train until around age 3.5). Feel free to go at the speed that seems right for you and your child and feel free to ease up on training if either you or your child is getting stressed out about it. I tell people it's sort of like different approaches to climbing a mountain - some brave and determined folks will take the quickest straight-up-with-rock-climbing-gear approach and others will prefer the longer winding trail that isn't as steep or intimidating-looking.
Best of luck to you - someday when our kids are teenagers we'll look back nostalgically and think "remember when our biggest worries were things like whether they'd make it to the potty in time?"