1. Art Description
These are the instructions given to the artist, Mark Zug:
Action: a demon (barbed wire, grossly exaggerated horns, etc.) emerges from the shadows of a dark alleyway."
This is the preliminary sketch submitted by Mark. Two things of note: 1) The card was called "Lurker in the Shadows" at the time, and wasn't given the name "Grinning Demon" until the art was finished. And 2) Mark gave it wings. That was a no-no, and the wings had to go, and were replaced by… wall.
3. Final Art
Here is a large version of the final piece, sans wings.
Finally, here is the card as you all know it today. Or, rather, as you'll know it at the Prerelease!