1. A modular camera and printer, said modular camera and printer comprising: a camera module having an image sensor for capturing an image in a RGB format, a central processing unit with program memory for storing program steps for execution by the central processing unit to operate the camera module, image storage memory for storing the captured image in the RGB format, a first image processing unit in communication with the image storage memory to transform image data in the image storage memory into a L*a*b* format, and a first communications bus for outputting transformed image data in the L*a*b* format; and a printer module having a second communications bus connectable to the first communications bus of the camera module, and for receiving the image data from the camera module in the L*a*b* format, a second image processing unit for converting the image data to a color space of the printer module and a printhead for producing bi-level dots for printing the image data in the color space of the printer module.