yes if you get one of those epsons that can load a "bottomless ink" system or "continuous ink system"

i have an R210 epson with the bottomless ink system. the system is a bit high in acquisition cost (about P4500) but the ink cost per unit run (full color) is less than a peso per page. so the real cost would be more on the paper you're going to use.

a generic photo paper (I use a brand called ELIT - available from most national bookstore) will do good picture print-outs...i'm not sure about fading in the future.

overall, if I am not a PRO photographer and trying to learn a few skills in digital editing....I'd go for it.