i have made many ( 20-25? ) hand stitched books of wet processed prints.
some were closed spine ( the pages in groups, sewn together in a sewing rack )
and many were open spine japanese bound books.
you can't really get images on both sides of the photo paper ( no emulsion )

one problem associated with hand bound books is that the book fans open when it is closed .. ( "<" )
because of the paper's thickness.
i have sewn pages together and it worked well,
i have also tipped images onto rag paper, and cut slots in the rag paper
and slid corners of the images in, to secure them, and allow for removal + duplication.

if you like hand binding, keith smith has a great series on how to make books by hand

have fun !