Funny you should bring this up...
I've been working on a handmade photo book for a few weeks now. I put together my second "trial version" yesterday. It came out pretty close to what I wanted, except that my covers were just a bit too short, and the cover photo needed to be printed a 1/4" taller. Almost there...
I'm using Hahnemuhle Photo Rag Book & Album paper, which is both double-sided and short-grained. The grain of the paper must be parallel to the spine of the book. Most paper is long-grained, i.e. the grain is parallel to the longer side of the sheet.
As for binding, I'm sewing the pages together with a needle and linen thread. About 3/8" from the edge of the paper, I draw a line parallel to the spine of the book-to-be, and put marks on the line 1/2" apart, for a total of 17 (my book is 8 1/2 x 11). I use an awl+hammer to punch holes through the paper at each mark, then sew them together, going up once and then back down. I guess you'd say they're double-stitched.
The top and bottom sheets are Inkpress Rag Cool Tone 300 gsm paper, which is very thick and stiff. These sheets get glued to the front and back covers, which are medium-weight chipboard, cut to size in my trusty rotary paper cutter.
I'm planning on spraying the prints for the "finished" books with Hahnemuhle Varnish Spray, to try to keep the ink from rubbing off one page onto its neighbor.
The cover is a panoramic photo, printed on a 12x24" sheet of Canson MuseumArt Canvas 340, which gets wrapped around the chipboard covers and glued to them. The canvas gets attached first, followed by the Rag Cool Tone paper (which is attached to the rest of the book).
I don't have a "perfect" copy yet, but it's getting there. It's a lot of work, but I think (and hope!) it's going to be worth the effort.
Let me know if you have any questions, and remember, the grain of the paper must be parallel to the spine of the book!