Ok heres mor einfo on this. Even after testing before and deleting the printer from the printing program I show a CUPS printer of that name when I got to print in a program. Not sure what thats about.
So anyway I followed your above directions and got the below.
I [25/Oct/2006:09:18:18 -0500] Adding start banner page "none" to job 8.
I [25/Oct/2006:09:18:18 -0500] Adding end banner page "none" to job 8.
I [25/Oct/2006:09:18:18 -0500] Job 8 queued on "lp" by "root".
I [25/Oct/2006:09:18:18 -0500] Started filter /usr/lib/cups/filter/pstops (PID 20065) for job 8.
I [25/Oct/2006:09:18:18 -0500] Started filter /usr/lib/cups/filter/foomatic-rip (PID 20066) for job 8.
I [25/Oct/2006:09:18:18 -0500] Started backend /usr/lib/cups/backend/lpd (PID 20067) for job 8.
W [25/Oct/2006:09:18:19 -0500] [Job 8] Network host '<printer IP>' is busy, down, or unreachable; will retry in 30 seconds...
W [25/Oct/2006:09:18:49 -0500] [Job 8] Network host '<printer IP>' is busy, down, or unreachable; will retry in 30 seconds...
Not only is the IP of the printer pingable but I can pull up the web page for the printer on that IP. Hmmm