I am currently setting up some new imacs and encountered this problem.
The Ricoh technician talked me throught this and it now works perfectly.
Install the printer drivers you need
Install Equitrac 10.7
Add printer through Equitrac
Open browser and type localhost:631
if it says web interface is currently disabled run "cupsctl WebInterface=yes" in Terminal (I did this under root user)
refresh browser page
At top go to Administration
Under Printers go to "anage printer"
select printer you want
click on administration (next to maintenance)
click on modify printer
add admin/pw
Current connection should be chosen printer go "continue"
Modify go "continue"
next to make Generic choose "Select another make/model"
Choose printer (in this case I chose Ricoh)
select driver - then "modify"
Go back to Admininstration > Manage Printers again
Select printer (driver should be showing)
Go to admin > set default options
Go to Policies > retry job
Set default options
Restart machine and then do a test print.. Equitrac should pop up and you go from there..
I credit this information to Stu from Ricoh NZ... how wonderful that he was able to guide me through this..
Hope it helps you all out there...