Glossy or matte photopaper works best in my opinion, but you need a good printer to pull it off. Naturally, printers that claim to be great at photo printing would have the better chance of producing satisfactory results without having to print over and over trying to get the "perfect one" without blemishes.
Grades of ink really depend on the printer. I haven't seen a regular home-use printer have any more than one kind of grade.
If you need professional quality and don't want to worry about it, then just go to a professional.
(By the way, stores like Walmart or CVS have photo printing services. Toss your render on a SD/Memory Stick and print it there if necessary)