I've been casting around trying to find information about a problem which has just arisen with one laptop in the past week or so. The question I've related this to sounds similar, though not exactly the same, and anyway it's closed, without any definitive explanation being posted, other than solved by re-formatting the HDD.
In this case it was Adobe Reader 7 on win xp: Reader opens pdfs, but on Print or even Print Setup just hangs. Iit looks as though the problem arose after some automatic updates. So far I've tried a system restore, upgrading Reader to 8.2 (not yet to 9), changing the default printer, all to no avail. Other PCs print fine to the same printer, and other applications on the problem laptop print ok, EXCEPT I discovered that MS applications such as Picture Manager also hang on the second step of their printer wizard.
I've not yet tried Foxit, but intend to, and I've noted the suggestions that it might work for other users on the same laptop - so maybe something in the registry for the particular user?