It did work, but not without some fiddling around.
To start with, the server management software would not install on our Windows 2003 domain server. I didn't chase down why because I didn't want to have to use it anyway. It had something to do with the 16-bit subsystem. But it was a bad start.
Thanks to this thread on the netgear forums I was able to get things working to my satisfaction, and without having to use the print server software. Here's the summary.
- Discover the IP address the DHCP server had allocated to the print server, log into the web interface and then set a permanent IP address.
- Go to Printers and Faxes and "add a new printer". When asked for a port, create a new one.
- Choose "standard tcp/ip port"
- Set the IP address to the one you fixed.
- Do not try to select a particular print server or network card, just use the "choose generic network card" option.
- Finish creating the printer as normal.
- Go to the properties of that printer, go to the Port tab and then select "port properties" of the port you created.
- Set the protocol to LPR, make the queue name "L1" and enable "LPR byte counting".
- It took me a while to realise this, but I needed to reset the printer before continuing. Check the status page of the online management and if you see "offline" or something similar then a reset will probably solve that problem.