We are using Xerox Phaser 8550 at UC Berkeley. It is Solid Ink printer, not exactly a laser printer. The print quality is the same or better. The prints durability is the same. I believe the colors reproduction quality is much better than that of Laser printers. Very reliable. The previous model 840 was working perfectly for 7 years in severe abuse environment (by students and post-doc's). Bought the new model 8550 a year ago, because they had a free new printer trade of promotion (just buy the ink from them often enough), and because the old one had many of its exterior plastic parts missing :-)

You can check the current promotions here (but the one I've mentioned was for education institutions only): http://www.office.xerox.com/perl-bin/product.pl?mode=rebate#rebate_color
They are offering a $500 trade of for the 8860 model (check your old printer model).