Hi Mike,
Welcome to the board...
I havent used the the PnP paper, but I (and many of the people here) have used the photo-paper transfer method. You just use a laser printer and some photo paper instead of the PnP (Seems like the Staple's paper is better than the others. SKU#18103-02238). Then you iron it on like regular. I guess it's the same method as the PnP, but a heck of a lot cheaper for the paper.
Also with the PnP, the amount of time ironing is critical, if you iron too long then it is ruined, but with the photo paper, you can iron as long as you want.
You may want to go out and buy some sodium persulfate for your etchant, the ferric chloride from rat shack is very messy and stains anything it touches. Also, the sodium persulfate is clear so you can see the board as it etches (easier to see when it is done, so you dont overetch it).
It also turns to a blue windex color as it etches so it gives an indication as to when it's chemicability (I think I made this word up :lol: ) is used up.
Webtronics carries the sodium persulfate for about 20 bucks for 1 kg of it.
Hope this helps,