You may somehow end up with an error that states "Print Processor Does Not Exist" when trying to install a printer.
To Resolve: Edit
1. Run - C:\Windows\\System32\spool\prtprocs\
2. Make sure that the "winprint.dll" file is there, if not - copy the entire folder from another machine.
3. If it still does not work, Run - regedit.
4. Navigate to: HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Control\Print\Environments\Windows NT x86 (or Windows x64 if a 64bit OS) \Print Processors\winprint.
5. On the "Driver" REG_SZ key, make sure it has the value of "winprint.dll".