The accounting app in the Canon software is pretty nice (at least, on Windows). You enter your unit costs for ink and different paper types, and it will track the costs for your print jobs.
The $.52/ml price is about right for 330ml cartridges. As for coverage, I'm averaging about 1.33ml/ft^2; but it varies depending on image, and the range I've seen is anywhere from 1.25-1.45ml/ft^2.
So on average my ink cost is about $.69/ft^2, but that doesn't account for any cleaning cycles, calibrations, etc.
