In regards to 3rd party ink, I was about as skeptical as a person could be. I read lots of horror stories, knew of the expense and hassle of people having to change heads, dampers, ink lines, everything under the sun from crappy 3rd party inks. For the longest time I said I would have no part in it. Then, I was told that the inks used for the Mutoh VJ line are basically identical to the Ecosol Max inks from Roland. (Both originally developed by Epson to use in Dx4 & Dx5 heads..)
Anyway, about 3 years ago I was on a mission to find an ink that would work well with my Mutoh 1204. (Which by the way IMHO, has one of the worst designed drain line systems of any printer I've been around.) The small tubes are prone to clogging, even with OEM ink, especially in the black and cyan channels. After speaking with a number of different users all over the country I settled on JetBest ink and 3 years later I am more than pleased with the results and savings over OEM. JetBest seems to have slightly more solvent in it's ink and as such has more smell, but on the plus side, helps keep the head and drain lines cleaner than OEM. Their ink is plug-n-play, if you are using OEM ink now, you just plug JetBest in behind it. I experienced no noticeable color shift, didn't have to make new profiles and in fact the only change I noticed was slightly better reds. Now both my printers (1204 and 1604) run JetBest ink on bulk systems and I buy it by the liter. Savings are roughly 1/2 the cost of OEM, which adds up to quite a bit even if you only use 1 set per month in your printer.
There are many people out there running 3rd party inks successfully, just as there are many people who have had problems. If you are looking for a 3rd party ink, do your homework and talk to other users that have the same or similar machines. I am not trying to sway anyone to 3rd party inks or particularly JetBest, I don't work for them, but I will stand behind their product based on my experience. Their product has been consistent, their service has been great and they always ship my inks the same day I order them. I have helped a few on this board with the switch and gave honest, unbiased feedback on my usage of this ink. Anyone can PM me if they have questions about my experience.