From my experience supporting HP printers, generic or remanufactured toner usually works fine. The downside is that occasionally you waste money on a bad batch of such cartridges that your laser printer doesn't want to properly recognize.
For example, where I work we deal with a good mix of HP and non-HP cartridges (some which are just remanufactured). Occasionally, HP laserjets will show a "Supplies Error" indicating an incompatible chip on the cartridge. It will still let you print, but you have to walk up to the printer each time and clear the message. In other situations, the toner cartridges simply don't last until their empty. Reports of streaks and splotches are common long before the toner is gone (replacing with another cartridge solves the issue). That's the disadvantage, or risk, that you take going with non-HP toner.
I imagine the same kind of problems occur in non-HP laser printers as well. There's more at play than just the quality of the toner itself.
~cdogg
"Insanity: doing the same thing over and over again and expecting different results." - Albert Einstein
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