As an owner of an Epson 750 Stylus Photo over a year ago I am familiar with the quality of the output. I replaced my 750 with a 1270 because I wanted a wider format and better quality prints.
Most (70%) of my printing is photographs and graphics. The quality of the Epson 1270 Stylus Photo is unbeatable. With the new papers and ink formulations available the output quality is hard to beat. If you are interested in archive properties, the Epson 2000P would be the printer to look at. It is much more expensive however.
I suggest you look at an 870 (small format version, same as 750) or a 1270 and test print a comparison image at various sizes to see the difference for yourself. You will get better looking photos (just like commercial film prints) with the 1270 as compared to a color laser printer (this is also stated in various reviews of photo printers. In addition, the text quality of the 1270 is also outstanding which is not so true with the 2000P according to user reports and reviews.
Hope this was some help,
Frank