I have been corrupting Word documents of all types, having Word "recover from serious errors", and generally having to reboot my PC more than ever since installing Office 2007.
From a quick google of Word 2007 "connecting to printer", I am not alone. Although most posts reference running Windows Vista as well, I personally have already reverted to XP again.
Without much research as to why, I can tell you setting my default printer to Microsoft XPS Document Writer now allows Word 2007 to open faster than 2003, from what I remember.
For those who really need help, click Start | Printers and Faxes, right click Microsoft XPS Document Writer, and then click Set as default printer.
Fortunately, I really like the XPS Document Writer, and I typically telecommute. For those of you wired to a LAN and suffering with now having to flip between printers, let me know if you find a solution.