I have put together a portfolio using the iBooklet feature of iPhoto. What a breeze! Things this complicated should not be so easy. Leave it to Apple.
At approx. $10 a pop these 18 page mini portfolios can be left behind without a worry. I feel like a publisher!
The layout templates make you look good in a hurry. Here is another trick I learned, you can design a completely custom page in Quark or Adobe InDesign at the same proportions as the iBook. Export the page as a PDF, then import into iPhoto, it parses the PDF keeping the resolution, then layout your book with these custom pages using the (1) page template in iPhoto's - iBooklet. This way you have complete control over the design. Undocumented feature.... our secret.
I have not printed the results, but so far it works in the layout. I will let you know what happens when I get around to publishing it.
Mark