Good article on how to setup a Raspberry Pi as a print server. This is a good way to improve security of the printer (potentially) as well. Down side. You would be surprised how many printers out there cannot interact with Linux over USB. They have proprietary drivers for windows land and do NOT work well in linux. This isn’t too common with higher end printers, but I have seen this with several of the cheaper ink/laser printers out there. Sofar Samsung seems to be the one system that consistantly support linux in the low end. Or so it seams.
http://www.linuxuser.co.uk/tutorials/wireless-raspberry-pi-print-server