Not the best subject for sepia, but it was handy. This was done a bit differently than the usual action.
1. Convert to B&W. (Your choice of conversion technique)
2. Create a new adjustment layer for curves
3. Load custom tone ([url]http://www.redmousez.com/uploads/apps/psfilters/rustica%201.acv]Link 1[/urll],
Link 2 and
Link 3)
4. Adjust toning using the curves adjustment layer according to your taste.
5. If the tone is too harsh, go back to the curves adjustment layer and load one of the other custom tones til you find one to your liking.
*I'm no pro nor do I claim to be. This method was just something I stumbled upon while trying to learn how to use curves.
edit: I just noticed you were using Elements. This was done in PS CS2. I've never used Elements before so I don't know if it will work.