If you have an iPad, iPhone, or other iOS device that you'd like to use for printing documents on your local network through your Mac computer connected to a printer, you've got to check out AirPrint Activator. It's free.
Have you noticed, that in OS X Lion, there is no AirPrint sharing option for connected printers? Odd
So give the AirPrint Activator author your support and check out his utility to cover Apple for dropping the ball in AirPrint sharing. Apple canceled AirPrint sharing via the PC and Mac.