I can't really help you with this dilemma too much, as I have only used the batting, but it does hold up- I am still on my first cut- I have not bothered to make cut any more from the leftover material, because having multiple when you only change it every month or two doesn't make a lot of sense. I have mine on a 260g system, if that helps. But it obviously does not polish like filter paper will, and I think the pore size gets larger with time. It also stretches over time.
I really like the coolant or milk filter paper idea, being that it is disposable and cheap. If you go that route I would probably use a float switch as it will clog faster and you don't want to waste material. I can tell you that the rollermat is suppose to use 60 micron paper, and I would guess you would not want to go much below 50. I was thinking about using this
http://www.farmandranchdepot.com/farm-equipment/12-x200-_Filter_Roll-Case-6.html I would contact the manufacture, but I would bet it is 40-50 microns. shipping is $10. I would also consider that ebay sellers 100 micron paper. shipping is expensive, but if you bought it infrequently and in larger quantities it wouldn't be to bad. I wouldn't know where to look for it locally, but you might try asking large machinery mechanics where they get it, or if you can buy some from them.