Microsoft Knowledge Base Article 870911 contains the following introduction:

This article describes how to consolidate print servers that run in a Microsoft Windows Server 2003 environment or in a Microsoft Windows 2000 Server environment. When you consolidate print servers in an organization, one of the primary hurdles is how to accomplish the consolidation with a minimal effect on the connected clients.

If clients use a Domain Name System (DNS) name resolution method to connect to the print server, you can use DNS alias (CNAME) records to consolidate print servers . When you use this method, you do not have to remap printer shares on each client . To use this method, you must create DNS alias records for the print servers that you remove during the consolidation . When you create the alias records, you must specify as the target host the print server that you want to consolidate the print queues to.

Note To use alias records for print server consolidation in a Windows 2000 Server environment, your Windows 2000-based servers must be running on either:

Windows 2000 Service Pack 4 or later versions.
Windows 2000 with the required hotfix installed. The hotfix is described in the following Microsoft Knowledge Base article:
298692 You cannot add a printer by using the CNAME