Digital BW, The Print

OK, based on absorbing lots of information in a very short amount of 
time, I seem to have reached a choice between two options, using the 
Ultra Tone inks on a dedicated B&W printer or using ImagePrint with 
the Ultrachromes on a 7-color Epson printer.  Assuming that the 
ImagePrint prints will also display no matamerism (correct me if I'm 
wrong), here is how I've come to understand both options:

Option 1: Ultra Tones on a dedicated B&W printer:
     -high quality results with no metamerism
     -avoids colored inks fading before black ink
     -choice of warm, neutral, cool toning
     -an expensive RIP not needed
     -would end up spending money on a separate printer for color

Option 2: Ultrachromes/ImagePrint on Epson 7-color printer
     -high quality results with no metamerism (due to the use of more
         colors)
     -colored inks could conceivably fade before the black ink
     -some, limited, control over toning
     -high cost of RIP, increasing considerably for WF models (but
         the RIP would also be extremely useful for color printing)
     -could print B&W on the same printer, which could save quite a
         lot if we're talking WF (though the increased cost of a WF
         RIP would eat up a god chunk of that)

So, is that a good estimation?  Am I wrong anywhere?  Are there other 
advantages or drawbacks to either choice?

Also, there's the upcoming Epson 4000 that will supposed have drivers 
that will handle B&W better.  (Will this mean new drivers for the 
2200/7600/9600 that also do better?)  Plus, having Photo Black and 
Matte Black available as a software change makes it all the more 
viable as a printer for both color and B&W.  (Though I'm unsure if 
I'd be willing to pay that much more than the 2200 for a few extra 
inches.  At that point, why not just spend a bit more and go with the 
7600 and get an impressive size increase, I think, maybe.)

Mike