Update: Broccoli sez, "it does work, I've saved a couple of non-functioning printers from the scrapheap with that trick. Here's a photo tutorial on the Epson ink trick."
Update 2: K sez, "I got a mailing today about a class action suit being settled by Epson. It is in regards to programming that indicates that ink cartridges are empty when they are not."
Update 3:Andrew sez, "While it is true that cartridges stop printing before they are empty, it is to prevent the printer from forcing air through the printheads and causing them to rupture. Unlike HP who attach a disposable printhead to each cartridge, Epson uses one high-quality printhead that is not user-servicable. In other words, if you print too many pages, you're risking ruining your printer. I know people who have used this without a problem, and others who have permanently damaged their printers with it. YMMV. "