To recover (personal) printer settings, you have to fetch the following files and directories from a proper Time Machine backup:

/etc/cups/ppd/
/etc/printers.conf
/Library/Preferences/org.cups.printers.plist
~/Library/Preferences/com.apple.print.custompresets.forprinter.*.plist
~/Library/Printers/

and a

launchctl stop org.cups.cupsd 
launchctl start org.cups.cupsd

may help too

References:

• http://www.macuser.de/forum/f24/druckerkonfiguration-time-machine-492330/
• http://www.apfeltalk.de/forum/showthread.php?t=243674

This guy might want to read this article :

• http://www.macuser.de/forum/f21/druckereinstellungen-wiederherstellen-615977/