If you *actually* need a printer, I would say it's a GREAT idea. My wife is a Realtor and does need a printer. Anyway, we too got tired of the ink jet printers. I would yell at her (not really) about wasting ink..."Does your client REALLY need to see that seller's disclosure?!?".
So, I did what you did. With the experience I had at work with an HP printer (never ever, ever jammed!), I went online to see what I could find. Well, I found the exact printer I was using for about $90. Just a quick search tonight came up with one for $129.99...you could probably find one a little cheaper if you look around. If I remember correctly, I bought a generic toner cartridge for about $50. So, looking at my status page, I installed the toner on 4/22/2011 and have printed 4,233 pages. It tells me I have 6,906 left to go...and this is with 5.3% coverage which is pretty good.
Now, although this is not very "mustachian", I will admit that I bought ANOTHER one for our second office down stairs. We have had it for about a year and it's worked great as well. Truth be told, I bought it as a spare, but it's become our go-to when using the "other" office.
So...if you need to print, and you don't need color...I definitely think it's worth it.