There is no doubt that pigment inks last longer, but dye inks have gotten a lot better. E.g., Red River hires an independent lab to test various combinations of inks and its papers. They rate Epson Durabrite Ultra (pigment) at 51+ years and Canon Chromalife 100 (dye) at 9-12 years. Of course, there are lots of variables--how much light the print is exposed to, whether you use UV-protective glass, etc.
I use a Canon Pro 9000II (dye) and used to use a cheaper Canon dye-based printer. With two exceptions, I have not noticed fading so far. However, I am not using it for archival printing. If I were going to sell stuff, I would either use pigment inks or a lab.
One advantage of dye-based inks is that they rarely clog. If you are going to be printing all the time, this may not be an issue, but for me, it was. I may print a lot for a few weeks and then not at all for months, and I have never had a problem starting up one of my printers after months of inactivity. Canon heads are user replaceable, but I have never had to clean or replace one. For me, the nice part of printing at home is the freedom to play around with different papers, the almost instant gratification, and the degree of control. E.g., I just printed a card on matte card stock. Printers have a reduced gamut, and matte papers have a smaller gamut than coated papers. Sure enough, I used soft proofing in Lightroom, and the image looked awful. With 5 minutes of tweaking, I got it back more or less to what it would look like on screen or on a glossy surface.