Printer: The photo printers from Epson with six inks have made it possible to make prints that certainly look photographic.  Yes, it is possible to make inkjet prints that compare favorably to silver-based prints. 

You may be surprised to learn that superior black-and-white prints result from printing black-and-white as "color" images.  If "monochrome" is chosen in the printer driver, only the black ink cartridge gets used.  Shades of gray are achieved by spacing the black dots printed on the paper, resulting in much empty space in the printed image.  If "color" is chosen, all six inks are used, essentially filling the print with colored dots.  These overlapping does generate the subtle shades of gray necessary for a fine print, and generate more detail in the image.  Epson printers are capable of producing very round dots, particularly on their glossy and film papers, which results in superior prints.

The Epson photo printers are optimized to print images that consist of 240-300 pixels per inch (ppi).  This should not be confused with the 720 dpi to 1440 dpi capability of these printers.  These printers do not print ordinary halftones, but use "error-diffusion dithering".  In low-detail regions, like clouded skies, the resolution is reduced, and the shades of gray increased.  In high detail regions, this situation is reversed.

My tests have shown that Epson Photo prints have an image resolution slightly exceeding the maximum resolution of the eye.  This accounts for the fact that such prints may appear photographic.  However, examination with a loupe will generally prove the photographic print to have more actual detail.

Printing papers and inks are important, as well.  Epson photo papers and inks make it possible to print almost all of the tones from black to white.

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"You may be surprised to learn that superior black-and-white prints result from printing black-and-white as "color" images."

One problem with inkjet prints is that they are not archival in the photographic sense.  However, this situation is improving, and I look forward to the time when inkjet prints will last as long as conventional prints.  Also, bear in mind that my conventional black-and-white negatives are archival, and of course I can still make conventional photographic prints from my negatives at any time.  Since the images are stored digitally, images made today can be reprinted as necessary in the future.  One word of caution, though: just because an image is stored digitally does not mean that the image file will give the same print on other printers, now or in the future.  Each image must be optimized for the printer and inks in use to achieve the subtle tones of a fine black-and-white print.

(Incidentally: I don't mean to suggest that other manufacturers don't make printers as good for photography as Epson's.  I simply have no experience using any other printer.)