I've got a Canon i860 and love it. 5 colors, the ink is cheap ($13 for a black tank, $11 for each of the colors). It has a permanant print head, so you are really only buying the ink tanks. It gives you a low tank warning; in practice I get the warning about 200 pages before the black runs out and about 50-75 pages before a color runs out. When it actually runs out (or detects that it is too low to complete the next page), it pauses the job so you don't get any pages where the color is off due to running out of a color mid-stream. Plus the speed is good; it is listed at 23 ppm black and 16 ppm in color. I actually do get speeds this high on documents with color highlights and small clipart, with something as dense as the WWG models I get 4-8 ppm. 4x6 borderless photos take 50 seconds each. On Froogle, it is listed starting at $80 for refurb and $115 for new.

I've had problems in the past with using heavy weight paper and labels in HP inkjets because of the tight 180 degree turn that it puts the paper through, the Canon has a much more gradual 45 degree bend in the print path.

[Edit]
I just looked up the i960 (the next model up), it is running about the same price, it is a 6 tank system with USB2.0, the i860 is only 1.1. The i960 is noticibly faster, 37 seconds for a borderless 4x6 photo. Both are 4800x1200 dpi in color.