i found this searching the knowledgebase at support.microsoft.com article 318273
100 Percent CPU Usage Occurs When You Print on an LPT Printer Port
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SYMPTOMS
When you print on an LPT printer port, 100 percent CPU usage occurs until the print job is completed. This slows down other programs until the print job is completed. In some case, other programs may slow down enough that they seem completely unresponsive. This behavior affects all power users who have many programs running at one time.
CAUSE
This behavior occurs because Windows does not have interrupt support for LPT printers.
WORKAROUND
To work around this behavior, print to a Universal Serial Bus (USB) printer port. If the printer does not have this capability, use a parallel-USB cable.
STATUS
This behavior is by design.