The problem using an inkjet printer is that it doesn't have a straight path for the paper. That's OK for paper, it can bend easily - 1.6mm PCB can't!
I have tried using a laser printer with flexible PCB (very thin - like the single laminates in multi-layer PCB's). Even so, the printer must have a fairly straight path (my Brother HL760 does 8) ).
It worked well, but dealing with the very thin PCB and laminating it to a thicker piece to hold the components were as much trouble as printing a transparency and doing it the usual way.
I have just got hold of another old Brother laser. When I get time, I'm going to try modifying the mechanics to give a properly straight path if it's feasable. If not, I'll just use the fuser unit for the toner-transfer method.
There are some very nice, very expensive solutions to all this, but what's the fun in that?
If you try the flexible laminates in your inkjet, I think you will struggle to find a suitable ink. It doesn't just have to be water resistant - it has to be etching-fluid resistant. The toner in laser printers is plastic - so it's OK.
Good luck,
FoxyRick.