Virtual LPT1 port only prints in courier with incorrect spacing

I followed instructions posted by a Parallels dev to add a virtual LPT1 printer, as my HP Laserjet 1320 decided that it didn't want to print over USB or Bonjour. The print jobs now go through but it seems that most fonts print out as a garbled mess of courier. Attached is a scan of an email printed from Outlook showing my current situation.

Since this is the only way I've gotten my printer to print reliably from both the Windows and Mac OS environment I'd really like to continue using the virtual LPT1 solution. Are there any tweaks that might resolve these printing issues?

System Specs:
Macbook Pro 2GHz
2GB RAM (1GB reserved for Windows XP)
Parallels 3.0 (build 5582)
Windows XP SP2

 

Just thought I'd give this a bump to see if a solution has been found.

 

Still looking for a solution to this problem.

 

Hello Chrisdkk,

This seems to be drivers issue. Please remove all printers drivers you had installed on the Guest OS before you started using Parallel Port.

Best regards,
Xenos