Some may have heard of some bugs with Adobe, Microsoft and other apps not being able to select a printer, or with apps such as Illustrator getting a "Please use Chooser" type error when selecting Page Setup.
I had such a problem and found the solution was that Little Snitch was blocking all network access to certain applications (I hate spyware). After removing the blocks to the local network, I was able to print again.
Printing (CUPS) in OS X is handled the same way network connections are, and uses port 631 on your local network (127.0.0.1). Other firewalls can cause the same problems if port 631 is blocked.
Mac OS X Hints
http://hints.macworld.com/article.php?story=20030513125814462