Well, lets see what I can do here...
Canon pros:
1) SPEED!!! Much, MUCH faster then any epson model
2) Ink is significantly cheaper (the epson is about $1.45 for an 8x10 for just the ink alone...). The Canon printer has generic carts online which print nearly as nice as the real deal... not quite as nice, but nice.
Epson pros:
1) Prints just look nicer... this is very subjective, I know, but until you get to the S900/9000 Canon printers I think Epson wins for image quality
2) Not sure if this is relevent at all for your use, but the Epson ink is rated for 45+ years of photo fade resistance, the Canon is 25. For what you are using it for, this seems irrelevent.
Now, lol, one final perhaps irrelevant point. the Epson printer doesn't use exactly the same type of print technology that canon and HP use(those 2 use a primarily magnetic ink through parallel plate capacitors). I don't honestly know the exact way the Epson works, BUT I do know it is based around a thermal process which is why prints typically are much slower in Epson printers, but achieve perhaps more accurate results. I doubt it, but I do not know if iron on transfers or hot apply cup labels would have any bad effects on the ink or make it do weird things, you might wanna check into that.
If I had to make a choice, I would take the canon. you said you need speed and cost, and the canon delivers for sure on both (ink costs for the canon are about half or less then that of epson. The quality on the Epson will be slightly better but at a cost...
Anyways, good luck with the purchase
