I used to have a 1280, which is a one-model-later version of the 1270, so I know where you're coming from. If you're really budget-limited, the 1280 is still in production ($400 from Epson), and will be more or less what you're used to. If having a longer print lifetime is of interest to you, it's worth upgrading to the 2400 ($850 from Epson), which has longer-lasting pigment inks.
Lisa