Right, using the PC as a print server is unnecessarily complicated. Recommendation: Go to your Mac printer dialog (instructions here work for OS X 10.7...) System Preferences -> Print & Scan, then hit the little "+" button on the lower left. Your Mac should hopefully discover the printer on its own, and at that point you just have to follow the various dialogs where you click "okay". Your Mac may (or may not) want to download a giant pile of drivers.

After that, you hypothetically have an alternate path to reach the printer from your Mac. And it might even work. But don't delete the old printer until you're sure.