how about this one, XEROX Phaser Series 8560DN here's the link
http://www.newegg.com/Product/Product.aspx?Item=N82E16828118204
As mentioned, 8560DN does not support tabloid. When I read the original post I was thinking B+W. Your suggestion of a color printer adds more depth to the request. Within the limited price range, you might want to consider a tabloid inkjet printer. Wi-Fi networking is also mentioned as a desired feature. Would you consider hooking it up to AirPort (or a wireless router)? Printers with built-in Wi-Fi are generally overpriced (it can add $300 to the price).
There are truly advantages to having your own tabloid color printer. It is generally faster than inkjet. Years ago it would have cost upwards of 70 grand for this luxury. With multiple toner cartridges and drums, color laser printers are much more complex machines than inkjets. When they fell below 10 grand I made my move with a Xerox 7750GX. You can blow your $1200 budget just refilling toner on something like this (now 7760) and toner is just one of 35 listed consumables.
My advice, especially if you go with Xerox, is to purchase the extended warranty within the 90-day grace period. For my machine it
seemed superfluous at $1400 (3 years) until I had to pay, after the grace period, over $1200 per year. I am told that a single visit from a Xerox technician to replace an average part can easily exceed a thousand dollars. At these prices, you obviously won't be purchasing a Xerox laser printer but even with HP, hopefully you'll see the value of a service contract.
Drum roll. If you are still longing for color laser, consider a used/refurbished HP LaserJet 5500n. Without warranty, here are a couple of links I've found to fit your budget. (Unfortunately extended warranties are unavailable for used printers.) An extra set of toner costs about
$1100 for OEM or
$400 for cheap third-party refills.
Printerology.net $575
Memory4Less $847
PostScript (Level-3) offers advantages like on-the-fly LZW compressed tiff decompression during printing. I have five printers with native PostScript. One of these, a Brother, includes an emulator (BR-Script). It works fine for most things except something many people will never need -- it won't print separations from Adobe software. For example, if you are working with spot colors and want to verify how each plate separates, InDesign will only allow a composite proof unless the printer has true Adobe PostScript built in.
Bottom line: color laser printers have dropped in price over the years but are still expensive to maintain.