I like the balance between the pencil and lines -- there is enough "contrast" in direction (basically horizontal vs. vertical) to make it interesting, yet enough consistency to tie it together (both the pencil and the lines form a "v" shape).
I also think the bw works very well with this (you have good tones and contrast), and the focus/dof choices you have made help to make this a very interesting.
My initial impression was "???" but the more I look at it, you have some interesting "vanishing points." I don't know that any of them fit the "classical" definite of vanishing point, but if everything did, that wouldn't be a lot of fun, would it? The line on the left is the more "obvious" vanishing point. I think if you had made it extend up and out of the frame, it would have "fit" that definition more, but I'm not sure it would have helped the balance of the shot, much. Also, the pencil forms a v-shape which is kind of a vanishing point as well. But, the one that amuses me, is the point of the pencil that has 'vanished' from the end of the pencil. :)
A good shot, maybe a bit too subtle in the rushed voting of dpc, but very interesting and well done.
Clever. Certainly unique! I'll be interested in seeing how this shot does for you, AND I look forward to reading the comments. :P
Vanishing Point can be factored two ways here IMO, the vanishing point of the pencil as it lays broken and worn out on the drawing surface, and of course the converging parallel lines. I think in the second case the point could have been illustrated better with the converging lines going a bit closer to the edge of the composition. The DOF helps to diminish or blur the end point, but not quite enough.
I like the concept. But would have loved to see the pen held with the broken tip still in it. You could have used the pencil to get another diagonal line going north-west. But again, nice concept.