It really depends on the printer and what you want to do with it. If you are concerned about cost, there are quite a few HP inkjet office grade printers that are virtually the same cost per page, and are a few hundred dollars cheaper than a similar laser. For quality (I assume you mean sharpness), there are Canon inkjets that have a resolution of 9600x4800, much higher than any laser. Finally, Epson inks are completely water-proof, and won't smudge, even if you try to rub it right as it comes out of the printer (the ink is sprayed at room temperature, allowing for a much faster drying time, especially on photos.) For photos ink is definitely the way to go.
The one area that lasers still have a leg up is if you only want B&W, then you can get a $100 - $150 printer that is pretty cheap to maintain, or if speed is your primary concern. Ink is a long way from even getting close to the speed of laser (think those large copiers at Kinko's, OfficeMax, Office Depot, etc.)