I've been painting on hot-pressed paper lately. Due to the smooth texture the paint sits on top of the paper, unlike cold pressed which absorbs the paint slightly. As a result, I think the watercolour keeps it's colour and glows more. I also like the way the pencil glides across this paper. I think I'll stick with it!
$50 - 5"x7" painting with 8"x10" matt, ready to frame.