Well, I started years ago with an Epson 1280 and Cone's system that was available at the time. My preference for print color was an ink called Carbon Sepia.
After that I obtained software from a company named Bowhouse in Calif that allowed the user to essentially control the print heads of an Epson 2200 individually with a curves window very much like photoshop's curves. So in the end one was actually writing there own custom linearized profile.
I used Cone's inks and was producing 7 tone B&W prints. They were unbelievable. WAY nicer than anything I could do in a darkroom, and I was an accomplished B&W printer.
Cone has since refined the systems to work on an Epson 2200/2400. You simply replace the carts with his carts and use I think the original driver. But in any case some research at Inkjetmall will answer your questions. They are very nice helpful people. And I believe you can simply replace the carts with the original color carts if you want to go back to color.
All in all it is a simple easy to use system that has the potential to produce museum quality B&W prints when combined with some of the excellent papers available today. (my personal preference is Crane Museo Silver Rag).
On my website
www.billsimonephotography.com under "places" there are galleries of some of the B&W work I have printed by the above methods.
Bill