If I plug my trust OLD non WiFi HP printer into AirPort's USB port, will that allow me to access it with my WiFi devices like my iPad Air, iPhone and MacBook Pro when in WiFi mode vs ethernetted into the Router?
Two part answer.....
1) Yes, you will likely be able to print from the MacBook Pro if you use Print & Scan in System Preferences to install the printer.
2) The iOS devices like the iPhone iPad will not be able to print unless you install an additional software App like Printopia on the Mac....and the Mac is running on the network when you want to print from one of the iOS devices.
Printopia - AirPrint to Any Printer - Print from iPad - Print from iPhone ...
There are other Apps that can do this as well, but I have not used them.