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It depends on what you'll be using to output the images.
If you'll be having your files professionally printed, or if you have a high-end printer that uses postscript (like a laser printer), then eps is the best way to go. The images may not show up well on your monitor in your page layout program (depending on your software) but they'll print perfectly. 'eps' stands for 'encapsulated postscript' and it's the vector language spoken by high-end printing equipment.
If you're printing out on a desktop inkjet printer, though, then your eqiupment might not print eps images properly. (not to mention that your printouts will smudge if they're exposed to moisture or humidity). My first advice is to consider having your letterhead professionally printed and then just use your inkjet printer to put your text on it, but I realize that isn't always practical when you're working with small quanitites.
If the most practical thing is to use a personal inkjet printer, consider exporting your images as tiff or even jpegs. Unlike eps images, these can't be resized without losing resolution, so make sure you create them in the size you want and save them at 300 dpi.
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