Letterpress is certainly one of printmaking's most beautiful techniques: the textures of the embossed letters, the way the ink interacts with the fibers of the paper.
But, it's also one of the least easy printmaking processes to get into. Whereas stencils, stamps, and even screenprinting can be approached with supplies from the art store, letterpress requires, well, a giant, heavy press, cases of type, and fancy metal plates concocted for each specific project.
In short: one does not dabble in letterpress.
So, what's left to do, especially if you design intends to end up online? Recreate the effect in Photoshop.
Katrina says, "here are many letterpress-inspired tutorials out there, but the ones I’ve seen simply apply inner shadows to the text. But, inner shadows are just one component of a letterpress look — there’s also the indented, pillowed-look to the paper when it’s been “pressed”. I address this in the tutorial by applying the bevel/emboss layer style to the paper texture, in addition to a few other things."
She presents everything in a nice screencast video, and provides links to the resources used so you can recreate it exactly as you learn.
Nice. I'm totally subscribing.