Merlin I take it the parallel printer is worth keeping then and if so that piece of kit is exactly what is needed, configure it, set n forget looks like it even got a decent buffer in it.
I'd say get a newer one but some of the newer ones simply do not have the functionality you'd expect - there is no "customizable" setting on it, like my epson c40 - I can set the paper and all the settings where as I believe some of the newer epson's you can't do this as it's been removed or well hidden from view that and the ink carts are hmm SMALL :-S, i mean if you printing out photos it used 720dpi full inkage where as I'd put it out as 360dpi fine :P which uses less ink...
Some Parallel printers are worth keeping even if it is an old dotmatrix 80-col printer