Laser printers are pretty cool and do produce very good colours at a very high resolution, the only thing that could be a problem is that laser toner is by nature matt in finish so if you want a gloss finish it would fall flat there. Although if using decal paper you would be spraying it with a lacquer anyway I guess, although there is probably no real necesity as laser prints are not subject to smudging when wet as the toner is 'fused' onto the paper/decal using heat - hence why the inkject paper would not work as that has a different type of coating on it that would melt onto the fuser unit wrecking it.
Happily collecting things all my life...