OK try this one open My Computer left click on Tools then left click on Folder Options and then View. Make sure that the Show Hidden Files & Folders is enabled and the left click on apply and then OK. That should make visible any hidden files/Folders or other things.
If the printers are still unavailable it very much sounds as if an Administrator password was typed in on the original install which you might not know or any record may not have been kept of it. Also there is another possibility as well did this unit come with SP2 installed or was it added latter? If it was an addition it may very well be a hardware issue with SP2 which has disabled the add new printer and show existing printers that are available from the control pannel in the Printers & Faxes icon?
While it is not impossible that it is a Hardware issue with SP2 the most likely thing is that an Administrator Password was added when the machine was setup and even though you have administrator privileges in your user profile you may not have total administrator privileges. This sounds like the most obvious thing to me. Can you track down who installed XP on this machine? If so you'll need to ask them for the Admin Password which is added during the install and is not related to the User Account these two passwords can not be the same as it is not allowed by Windows. If this is the case you'll have to backup all of your data and reinstall XP without an Administrator Password on the install and just rely on the Account privileges to limit the ability to affect user accounts.
If this is a business system there should be a record of the Master Administrator Password kept with the computer details in the accounts office along with product keys for Windows and any other MS programs that are installed on the unit.
Col