Don't throw away an Epson printer with a full waste pad, i.e. with the "some internal components have reached the end of their operational life" warning before you google OctoInkJet and see if one of their waste ink boxes is available for your printer - around £9.75 each.
I did this after I got that warning about three years ago and my Stylus Photo RX700 is still going strong - I don't think the boxes/reset utility are available for every model though. As far as I remember you disconnect the tube from the printer to the ink pad, leaving the full ink pad in the printer, and connect that tube to the new tube leading to an external ink box (a modified "lock and lock" box) and run a reset utility. My box is only a third full after 3 years and just needs emptying whenever it suits.