One of my friends has one of the canon label printers. Some cds he burned for me looked pretty good. Nice neat text, but I think it has limited scope. Still for £60. One thing he did say was they rip through ink. Its about £5 a time on think he said he got about 50 odd disks per cartridge.
Alternately try a printer with cd printing cabalities ie Canon i965. You can get a Epson stylus 950 for £169.99 click here Viking number KM1-SP950 which is also good for photos.