I've tried using typing/copy paper several times and always go back to super-light interfacing (bought on sale in a big roll). You can draw/trace on it easily and it tears away without problem.
Most of what I make are wall quilts, so I generally don't even bother to take it out when I'm done! At the very least, I leave it in until I've joined the paper-pieced segment to its neighboring plain piece.
Haven't tried running it through the printer yet, but I bet it wouldn't be an issue -- particularly if you ironed it to a piece of freezer paper first.