Isn't Mucilage made from mucus? Or was that just gross, grade school humor...
I stopped experimenting with papers and irons, when I tried Pulsar paper and a cheap 4" surplus-store laminator. I don't have a lot of spare time, patience, or a huge need to save every penny. My board volume isn't that great. Etching and drilling the board isn't the fun part of the project. Anyway, I use my paper cutter, and chop the Pulsar paper into four pieces. My boards are usually small, and can usually print two or more on one piece. Not really expensive, and none of the time consuming hassles.
I'm all for saving a buck, but how much do you spend on magazines anyway? I know that it took a lot of time to learn to use an iron (still can't do shirts, or crease in pants, myself). Just seems a little crazy to go through all this extra work. I've had boards printed, etched, drilled, stuffed, and powered up, in less time than it took to soak, and rub off paper fiber.
Doesn't the paper tend to roll and curl when you apply a release agent. So, you will also need a way to hold it stretched flat while it drys on. Flakes of glue in the printer doesn't sound like healthy thing either. It would need to be something flexible, and won't flake or powder under heat. Not saving much, if you need a new printer after a few boards. But then again, there is always some initial cost for research and development.