Just some info on ink costs and a brief comment on paper - for paper I've used some Canon Photo Pro and lesser papers - these are all fine, but rather expensive. I've used the mid-line Kodak PhotoPaper Glossy - it stinks (literally, like potato starch) in the saturated areas, failing to absorb the ink leading to crazing or alligatoring of the image in those areas. I get good results from Kirtland (Costco) glossy paper for about 15 cents per 8.5x11. I've got some Kodak Ultima, but haven't tried it yet. I think I've decided to use the Red River paper as my standard, as it comes in a variety of surfaces and a couple of qualities - the Polar claims to be formulated for fade resistance with dye-based inks, but it is the most expensive of their line, with 13x19 going for around 1.60 a sheet and the mid-line going for about a buck. They also have profiles for Canon printers and instructions on setting them up.
As for ink costs, I've been collecting data ever since I got the printer at Christmas last year, and now have used it enough to have enough data to say what the ink costs are. I've printed enough that I've had to replace all but the Red and Green cartridges (which show half gone, which generally means 3/4 gone) and have kept track of everything I've printed in a spread sheet. I've printed borderless 4x6 and 8.5x11, along with bordered 8.5x11 and 13x19 (12x18 image). And I've calculated the costs based on a price of $10 per cartridge, except for the red and green, which are in at 10.50. These are readily obtained costs from Amazon, including shipping, or other sites. I have use no non-OEM inks.
The photos are an approximate 50-50 mixture of landscapes and people shots (kids snap shots, some portraits). I keep track of people, landscapes and travel separately, mostly for my interest, but the ink usage also differs, not so much in quantity, but in which ones - portraits take a lot of Photo Magenta, for example.
The quality setting is about half the default easyphoto, used with the 4x6 snapshots, and a manual 1 (fine) setting for the larger pictures. The 4x6s are primarily from 1024 x 682 jpegs, while the larger photos were done from 20 megapixel files from Photoshop. The easy photo color management is automatic, with no enhancement features, and most of the Photoshop stuff is printed with the closest paper profiles I could dig up.
With over 20,000 square inches printed, the ink cost is stabilizing at around 1.4 cents per square inch of image. Figure you will need ink colors as follows -
1 green, 1 red, 2 black, 2 magenta, 2 cyan, 3 yellow, 4 photo cyan and 5 photo magenta.
Obviously, the subject matter will vary this ratio a bit, especially if you have a concentration on portraits, or lots of blue skies, or lots of bright red automobiles, etc. But the costs will probably be in the 1.35 to 1.45 cents per square inch range. Add your paper, and then you know what it costs to do a print. Not counting the cost of the printer and print head, or the computer, or ... It's cheaper to take your files to Costco for printing, but where's the fun in that!
Doing more printing at a time appears to use slightly less ink than doing one page a day and turning on and off. Probably the initial charging when the printer first turns on. However, this is an impression, and I don't have quantitative data to back that up.