Now that PHOTRIO offers the opportunity for those who were APUG-only registrants to view these threads, it seems like a good idea to chip in some thoughts on the subject of this one.
Until a few months ago, I'd never done any serious photo printing outside a darkroom. Just some small jpegs output via my wife's all-in-one. Adequate for their snapshot purpose only. I've become increasingly frustrated by the wet-printing papers still sold these days. Possibly as a result of Schoeller only offering very limited base material choices to photo manufacturers, coating evenness has declined and surface gloss of glossy versions has become, to my taste, excessive. "Matt" and "Semi-matt" darkroom papers sacrifice too much black. So, I threw in the towel and "went hybrid."
At this point, I've only been using an Epson V850 to scan 8x10 320TXP negatives, not yet climbing the learning curve of dealing with smaller originals that have shiny, Newton's rings-prone base sides. The large Tri-X negatives, with their dull base-side retouching coating, lay perfectly flat on the scanner glass and result in blissfully ring-free 115 megapixel grayscale 16-bit files.
After any required spotting and curve adjustment, I've printed them using an Epson SC P600 on quite a few different inkjet papers. Even some "luster" surfaces. The best, to my eye, has been Hahnemuhle Photo Rag Ultrasmooth. Unlike wet printing versions, this combination (the Ultrasmooth paper, downloaded Hahnemuhle profile and Ultrachrome HD inkset) has for the first time given me a wonderfully reflection-free print with deep, deep blacks. I don't have a reflection densitometer, but the blacks are visually as dense as those found on the best 'reference' wet samples available here for comparison: Ansel Adams Yosemite Special Edition prints 35+ years old. I've quit looking for alternatives. This is how I'll print from now on.
The OP approached this subject with cost being his primary concern. I've not analyzed the total expenditure per print with Photo Rag Ultrasmooth and Epson SC P600 ink cartridges compared to wet printing. Ultrasmooth is far from being an inexpensive inkjet paper. However, given how outstanding I find prints made on it are, I'd take this hybrid route even if it were more expensive than wet printing. Make fewer, better prints, if necessary, is my advice.