Purchasing a new printer: laserjet or inkjet?

Last December, I found that my old and reliable HP LaserJet 4 was on its last legs. My LJ4 is built like a tank and while it is not the fastest, it has dutifully served since 2000. However, the time had come to introduce a new printer. Given my changing needs, I decided to focus my search on multifunction devices that incorporate scanning, printing and faxing, and the first question was whether to go with an inkjet or laserjet.

Historically, the choice of inkjet versus laser printers was clear. Laser printers were more expensive to purchase, but were significantly cheaper when it came to buying toner and inkjets were the opposite – inexpensive to buy with expensive ink. Thus when it came to purchase a new printer, I assumed that these long held assumptions were still true and was I ever wrong!
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