OS X Lion printing issues are much less than previous releases except for those who skipped Snow Leopard. If you skipped Snow Leopard you "may" see some of the issues other saw when they upgraded to that.
One key is to get everything "cleaned" out of your printing system so you are starting fresh. This resolved the majority of issues when installing Snow Leopard.
One other issue I've seen twice now is the OS X CUPS driver taking over the Epson driver. On two occasions now when printing, all my custom choices normally available through the Epson driver where gone, and the OS X choices were back. After uninstalling and reinstalling drivers it fixed, only to happen again.
I think i've cured this (we'll see.) After running the Epson uninstall utility and resetting the Mac printing system (I have a write up
here), go to yourharddrive/Library/Printers and throw the entire Epson folder in the trash. Also make sure when you get notification of a Apple software update which includes Epson drivers DO NOT install them if you use a pro grade Epson. Most issues with Lion occur when the Apple supplied drivers override the Epson drivers.
Also when installing the printer in the Print and Scan preference, when clicking the + icon if you see the name of your printer show up in a little pop up menu, do not select it from there, that may load the apple driver. Instead select Add Other Printer and then find the printer in the list.
I'm trying to find a definitive way to remove all traces of Apples CUPS drivers for Epsons. Epson used to make a utility that did it, but I don't recall where I found it.