I'm running Windows SmallBusinessServer 2000 on a machine with a 56k modem for all outgoing faxes that uses the Microsoft Shared Fax Service. I also have a Windows 2003 Enterprise running terminal services, and in the printers sharedfax is added as a network printer. It shows "unable to connect status" and when you right-click to and select properties, it gives you an error saying "the spool service is not running and you cannot view properties." The spooler service is, however, running on the 2003 server for a fact because I can view all of the local printer properties. On the 2000 server, I show the Microsoft Shared Fax Service AND Print Spooler as started.

Here's the tricky part, I can add the shared fax printer on a locally onto Windows XP machiens (that actually use RDP to connect to the server running terminal services) and it shows ready status sends faxes! They show up in the Fax Console Manager on the 2000 server and send successfully. I've tried this on several different computers and it works every time. Is there a glitch in my 2003 server?

Deleted printer from the 2003 printer list and re-added and restarted both machines printer services and the 2000 sharedfax service. Now printer is stuck in "opening" status

Have you checked the Task manager to verify that its running?
There are several reasons.
1. A third party drive won't let the Spoolers Service to Start/Continue.
2. An access violation that occurs in the printer-driver process. (Doesn't happen often)
3. A Service in Windows 2000 overrides the Service in Windows 2K3.
You can find all the Service errors using the Event Viewer. Can be accessed via Run box (easiest way). In the Run box type in Eventvwr.msc and hit enter.
Check for System Errors as well as Application Errors.
Make sure that you are running all the necessary services in order to function the Printer/Fax services well. To check that, use services.msc in the run box.
To fix you can use Microsoft Fix it.

There is a Performance tweak as well. For Print Servers*

By default, Windows Server 2003 places the printer spool folder at %systemroot%\System32\Spool\Printers. However, you can potentially increase system performance by moving the printer spool files to a different drive than the one that holds the operating system.

Computers frequently access system files, so moving the printer files to a different location allows faster access to those files. The drive won't have to try to service requests simultaneously.

To change the location for the printer spooler files, follow these steps:

Go to Start | Printers And Faxes.
From the File menu, select Server Properties.
On the Advanced tab, enter the location where you would like to spool print jobs. If the location doesn't exist, this process will create it for you. Make sure the new location has sufficient disk space to handle large print jobs.
Stop and restart the printer spooler service, or reboot the server.