I don't own a comparable Epson to compare against but the B&W output from the 9500 II is excellent. I'd guess that a comparable Epson model (2880?) is better than the Canon at B&W... but at this level I couldn't imagine any difference will be by leaps and bounds.
I used a R2400 and was very happy with the B+W output, however the printer was somehow troublesome.
I think gray inks are a considerable improvement for B+W printing and I wonder if the Canon can achieve similar harmonic shadows with only black/1gray inks in place of the 2 gray inks of Epson and HP. I saw Pixma color prints which were outstanding, so no doubt there.
I'm very happy with mine. I upgraded from the Pro9000mkI is it's BW is no where near the quality of the 9500mkII and I have found that the color output from the 9500 is as good as the 9000 - IMHO.
I don't mind the speed penalty at all.
Also, I use Ilford Galerie smooth pearl using the profiles included and I have been most pleased.
Nice printer. Only downfall is the small cartridges that has all ready been mentioned. I don't have any problems getting ink, and the prices can be expensive, but most of the typical places like BH etc sell it at reasonable prices.
Initially, the only reason I went with a 9000 was it shares the ink from my Pixma MP950 that I use for general office use and small quicky prints. It is a nice printer in its own right and the BW output is not shabby, but is outclassed by its bigger brother.