I have a P7000 commercial edition. I do not use it for photography, that's what I use a 3880 for. I've printed photos on it as a test (as well as other large format works) and the output is still quite good. Where you will notice differences is in pure grayscale gradients and highlight roll-off in photographs. You will get more graininess and banding in those areas due to the lack of LLK. It's a subtle difference, but I can notice if it I run particular prints on both printers. Enhanced B&W mode will definitely take a big hit.
You will match more hues overall with a reduction in dynamic range, basically. Photographers should avoid the commercial editions unless they also plan on doing other wide format work.