I saw a deal on a watercolor pencil set recently, so I decided to get it and give it a try. It felt odd drawing with color pencils just because I haven't used them in such a long time, but it was nice to feel the pencil along the paper instead of the usual doodles I create digitally. It was pretty fun to apply water to the pencil marks and see the effects that were possible.
It definitely allows you much more control than what you could do with traditional watercolor. I'll need to do more experimentation with heavier pencil marks to see if I can make the watercolor flow more.