I just upgraded my desktop computer from Windows 7 x32 to Windows 7 x64. To my surprise my "HP Laserjet 5" printer would not install properly, i.e. could not print out a test page. I did find the driver for the printer in the driver selection window after clicking on the "update drivers" button.

But here is the solution for installing a parallel port printer on a new computer such as mine: At Staples they sell a USB Parallel Printer Adapter. It works! Good luck!