Maybe? I bought my airport extreme for just this reason, print sharing with the USB hub. I have mac ( me ) linux (me ) kids xp, wife xp, and other odd OS's.
I just NEVER worked right. The macs did, not xp. I gave up on it. I was using a HP895Cse that served me well for a number of years. It finally croaked and the yellow went away. ( I was using a D-link parallel port printer server box - Worked awsome. Best 59 bucks I ever spent ).
So I set out to buy a new printer. Amazingly in Aug 2005, I could not find a printer ANYWERE local that had a parallel port. All were USB. Well, I know it will work on the mac. If the kids need to print school stuff, I'll just network into thier machines and get the file and print them..
I bought an Epson Stylus R200. Plugged it into the mac worked fine.
For giggles, plugged it into the Airport Extreme. Worked.!! Cool. My emac and ibook found it. I had some windows connectivity but no printed results.
Searched Apple and found Bonjour for Windows. ( Bonjour is the OSX 10.4 "replacement"?? for Rendezvouis (sp?). Loaded it on the XP machines, walla!
I finally justified my purchase of the Airport Extreme.
Here is what I would suggest:
Upgrade to OSX Tiger 10.4
Don't use the Airport Extreme and buy a cheap D-link or Netgear or whoever
wireless 54Mbs hub w/ print server. It works here, but both of my macs have 10.4+ and Airport Extreme has the latest "firmware".
I honestly don't know the difference between Bonjour and the Rendezvouis product.