I've done it. It's a pain in the A*s. The problem is that printing requires that GDI engine to be in place, which normally means that you have to have the desktop, which only loads when you're logged in. If you're attempting to do this from a Service on a Server, then you normally aren't logged in.
So first you can't run as the normal service user, but instead as a real user that has interactive login rights. Then you have to tweak the service registry entries (I forget how at the moment, would have to find the code which I can do tonight if you're really interested). Finally, you have to pray.
Your biggest long term headache will be with print drivers. If you are running as a service without a logged in user, some print drivers like to pop up dialogs from time to time. What happens when your printer is out of toner? Or out of paper? The driver may pop up a dialog that will never be seen, and hold up the printer queue because nobody is logged in!