I'm going to throw a monkey wrench into this conversation. If you like the look of water colors but you don't lie the way your paper pills (or you don't like the texture of water color paper,) have you tried colored pencils (regular waxy ones, not water color ones) with Gamsol or other odorless mineral spirits? They give a very similar look, but since you're not loading the paper with water, you can do it on regular smooth card stock without the pilling.
*Olim velis me peraudire.*
Rock is dead. Long live paper and scissors!