The proper way to delete a network connected printer, specially if you intend to ever add it back, is:

1. Start / Settings / Printers, select the printer and File / Delete.

2. Start / Settings / Control Panel / Services, scroll to the Spooler service and press Stop.

3. Use Regedt32 to delete the following keys:

          HKEY_CURRENT_USER\Printers\DevModes2
          HKEY_CURRENT_USER\Printers\Settings

4. Shutdown and Restart your Windows NT computer.