I apprenticed with a letterpress printer who often did stationery, etc. for people. I know it loses a bit of the mystique, but you can actually design your own device for an engraving on a computer, have the engraving made chemically and then printed out by the letterpress fairly inexpensively on pretty much any paper you choose in any size. Having said all the above, I don't have personalized stationery.
Personalized stationery is a nice thing I think. I write quite a few letters and send notes and prefer the actual letter to an e-mail message. For business, I've got Crane's Ivory white letterhead. For personal, I've got Cranes ecru 96lb correspondence cards (with name), monarch paper (with just address on top) , and note sheets (with name). I've got correspondence cards with soley my name and then with Mr. & Mrs. Horace... I've got black bordered cards for mourning too. Ah, a lost world. Speaking of which, has anyone ever had any problems requesting that the Post Office hand cancel letters? I've been getting guff lately from a few postal works for doing this simple service.