What to look for when buying a printer?

Me and a buddy of mine who shoot have been thinking about going out and buying a printer. Looking at them, the prices range drastically, just like any other product, and other than with speed I can't think of why. I clearly don't know much about printing, but I was wondering what are some things to look for in a good/bad printer other than speed? I don't wanna cheap out and get something I'm not happy with, but I also don't wanna spend a ton and get something minimally better than a cheaper option.

What are you printing? How high a volume? What media do you want to print onto? What size do you want to print up to? Is it for customers or for yourself?

Printing for yourself can work out more expensive than using a lab, especially while you're learning. A CIS (continuous ink system) like RIHAC can drastically lower the ink costs. The only real advantages of printing yourself are turnaround time and control.

Better get that color management textbook out too.