Homebrew PCBs

While not strictly a "PCB" topic, it does relate to something used for
making PCBs.  I was thinking (dangerous, you know) about making a
front panel for another project.  Given that I desire "nice" artwork,
and have access to a laser printer, I was wondering about using laser
transfer methods (print to laser transfer "paper", iron on front
panel) to make a nicely designed front panel.

A couple of questions:
1)  How well do the laser transfer methods work?  I'm assuming that
one takes the transfer and makes it work on a PC board with an iron
(or some heat source with pressure).
2)  If I can get a color laser printer, would I get color transfered
as well?
3)  Quality?  Would it look "reasonable" for the task?
4)  Durability?  I was thinking of coating the whole thing with some
clear spray to make it last.
5)  Am I making any sense?  Is this idea a whole waste of time and I
should look to something else?

It seems to me that the transfer method would make for the ability to
have nice artwork/legends on my finished "box".  While I am not going
to dunk the "box" in some resist, the transfer method should be
similar, thus the questions.

Thanks for any feedback.