If you want the highest quality results, then it's hard to beat what can be done with something like the Epson 3880, but consider the cost of the printer, and card stock. The pre-scored stock is definitely the way to go, but its quite expensive.
I've been using KonicaMinolta Magicolor printers with 9600 DPI resolution for over 10 years. If you are a careful shopper you can find some thing like their current printer for around $500 with starter carts that can print around 1000 cards.http://kmbs.konicaminolta.us/wps/portal/web/home/products/printers/magicolor/magicolor-5670en
For card stock, I go to a local printer, test out several samples to find one which works well in the printer. Then have him precut and score several thousand sheets for 10-15 cents per 7x10 sheet. (Less than 1/2 cost of Red River card stock)
The quality from the magicolor rivels good offset printing.