Digital BW, The Print

How rich is the D-Max on a photograph printed from the Epson 2200 
supposed to be compared to a true photographic print? 

I have two identical prints - one made the traditional wet-process 
way, and the other on the Epson 2200 with Enhanced 
Matt paper (with the Matt Black cartridge).

The D-max on the wet-processed paper is noticably darker and richer 
than the image printed on the Epson. And I know it has nothing to do 
with my printer settings -- I've got the blackest blacks my equipment 
can produce. The blacks on the Epson print lack punch, and have a 
slightly soft charcoal look to them

Everything I've read says that the D-max on Epson 2200s is supposed 
to be about as good as from photographs made the old fashioned way, 
but in my experience this just isn't so. Am I missing something here? 
Isn't the 2200 supposed to be very close to true photographic quality 
with the right inks and papers?