Craftgrrl - Where Crafters Unite!

Hey y'alls. The other night I had the idea of purchasing some stationery, so I started cruising etsy. As I was looking at the designs I liked the most, I realized that I could do it myself. I am waiting for a package of lino blocks and a couple of speedball lino knife sets, it should be here tomorrow *squee*. I have never done any kind of printing before, my usual crafts are poly clay, needlework and some sewing.
I have done some googling (that always sounds dirty to me) on the subject and have determined that it's possible to do laserjet transfers just with water. Has anyone had success with this technique?
What are the best types of media to use for printing? Is it necessary for me to buy the ink too, or can I just use paint?
Any other general advice or tips and tricks are greatly appreciated.