This is an old problem to some people, but it just happened to me.
My printer won't print, although it will throw out a test page, so I know that the printer is not the problem.
My printer icons have all disappeared.
I tried to reinstall a printer, and the computer told me that the print spooler was gone.
I used my "System Mechanic" to set up another print spooler. That didn't hurt, but it didn't help, either.
I found a button to push, to start the spooler, and it told me that either I or the computer had committed error 1075, and that a component was missing.
I looked at the discussion threads in "daniweb" under "printer subsystem unavailable". It seems that I'm a little late. Everyone else had this problem between 2003 and 2005, and from the look of the postings, people had "aha!" moments, and fixed the problem.
I tried the fixes, from the discussion threads. The fixes included going into the c: prompt and initializing the print spooler. No luck. I wound up with error 1075 again.
I have looked through the Microsoft Windows website, and there is just too much information to sift through. But the "printer subsytem unavailable" information box said that the problem occurs when a user tries to configure Windows Fax, which I haven't tried to do.
I tend to over-correct, and so what I'm presently considering is backing up all of my data, and re-installing W 2000, or buying more RAM, and installing XP Pro. But there has to be something a little less pervasive.