The above dialog window illustrates the Windows Default Printer Preferences, set up to the parameters I most use when printing, the bulk of which is done from Photoshop.  This simplifies what must be set up once the Print dialog in invoked in Photoshop, where I simply ensure Photoshop is set to Determine Colors (CS2)/Manage Colors (CS3), the correct printer profile (paper profile) has been selected, the rendering intent is as desired, and any other desired options are set.  If printing is done from any non-color-managed applications, then the printer properties are changed as needed when the Print option for that application is chosen.  Note the subtle difference...the default properties for the printer are titled as "Printing Preferences" whereas they are titled "Properties" when invoked by an applications Print dialog.