My musings on this subject...
The price and the quality required are probably the main considerations here.
Students tend to print A4 sometimes duplex (both sides of paper) and then visit Rymans (or similar outlets) for various binding options. So you are talking about a pack of paper and the cost of laser printing (not inkjet it is not waterproof and smudges anytime thereafter) and binding. However the finished article may not have a long shelf life depending on the paper, ink and bindings used.
Even a professionally printed booklet may not have a long shelf life. My copy of the Moorfield pit disaster by Harry Tootle is showing wear and tear.
The electronic option with CDrom's, webpages etc., has a strength in that the material can be updated and corrected easily thereafter, and could be available to a wider audience if published to the web. However, not everyone has a computer, or internet connection. Not everyone wants their material on the web. Which is a pity as Accrington has a rich past, and there are not many websites about its local history.
The websites can of course be removed. So I know of one archive site that is considering harvesting the web for a particular subject (subject to copyright of course), as a lot of information may be lost forever if it never gets into print form ! ! !
Accrington Pals by William Turner is a lovely book, but additions and corrections I would like to include will never happen unless it undergoes a reprint, and so future readers will always read the same information that was true at the time it was published
For the professional publishing option there are lots of resources on the web.
There is a brief guide for first time publishers here
http://www.biddlesbooks.co.uk/hh_faq.htm
A possible links try searching using terms 'short print run'
http://www.castleprint.co.uk/digital-print-service.html
You cannot beat personal experience. Why not contact Bob Dodson Landy Publishing for email advice
http://www.forl.mcmail.com/landy/dobson.html
Bet your local family and history society has many examples of booklets with short print runs. Why not check out inside and back covers for publishing contact details.
Did that help ?