Apologies for replying to an old post, but just in case it still isn't solved or other people have a similar problem, one other solution would be to leave Win95 installed as your default operating system, get a newer printer (providing there's a USB socket on your motherboard) then to use your printer, but boot your computer from a live cd such as Knoppix -
http://www.knoppix.com/This runs an operating system from your CD ROM without having to install any software on your hard disk. It will more than likely detect your hardware, configure your new printer and also let you access your existing hard drive for reading, writing and printing. (Download or buy a copy of the CD & try it before you buy the printer). Then you won't have to worry about drivers or installation etc.
While running from the CD, it's possible to access the internet, write documents etc.
There are other bootable CD ROMs about, you would be best with one that loads a lightweight window manager when you don't have much RAM. I think Knoppix loads IceWM when RAM size is less that about 180Mb.
An alternative, really lightweight distribution, bootable from a CD or USB pen drive and capable of running on a 486DX with 16MB of Ram is "Damn Small Linux"
http://www.damnsmalllinux.org/This would be a very low or zero cost way of getting your old hardware to work with a new printer.