Generic vs. Genuine Ink that is

When it comes to shopping I must admit I'm a cheapo. Actually I prefer to call myself frugal but that could be subjective. Anyway, I have been using generic ink for years and love it. Occasionally I would end up with bad one but considering the cost is about a third or less than brand names I could live with that. I tried a few different generic brands and found one I could rely on. Well here's where my problem starts. I ran out of ink a few months ago and still haven't bought any. My one year old printer was discontinued at some point in the last year making it harder to find. Also I really don't print many pictures for myself. I like looking at my pictures on the computer just fine. I print a few here and there to frame and the rest go to friends and family. Well when my last child was born 8 months ago I sent out birth announcements using my generic ink and the quality was amazing. Well about six months later some of those have faded. So this leads me to believe that generic ink is not the way to go. But some of them still look beautiful so could it have been the paper? I have no idea. But i really don't feel like paying $60 for genuine ink refills.
So I have a few questions for you.
Do you use generic or genuine when you print from home?
Do you prefer to go out for prints or order online?
Do you think the paper makes a difference?

Thanks have a great day!