I've made some developments on my View-Master experiments. Several years ago I tried to print custom VM on transparency film, but did not have a good result at all, but trying it again, with a new printer has resulted in much better results.
The other great aspect is how good the pictures look just printed on plain paper, this would really bring the cost down on making custom reels.
The other new aspect is that I plan to get a circle cutter from scrapbooking supply store as well as a 3/16" hole punch.
One good then print out 4 reels on each piece of a4 (8.5x11) paper and quickly cut them out with a circle cutter and then punch the needed 7 alignment/advancement holes with the 3/16" hole punch. (the holes are rectangles but they are 3/16" wide)
Another angle was trying to print the same images on Glow in the dark paper, this was really neat as it provided a ghostly glow to the 3d image in the dark.
I plan on creating some simple line art 3D to better utilize the Glow in the dark effect.
The custom lighted viewer is made from recent viewer (model name: Virtual viewer) which i piece of paper on the inside of the frosted screen and attached two push to click on/off closet lights from Energizer( they were $4 for 2 of them), I left the battery compartment exposed, and it works really well.