The router is also a switch, so yes, it will route anything within your local network back out to the right port. I had a WGT624 and it initially had some problems routing from the wired side to the wireless side, but it was eventually fixed with a firmware upgrade from netgear. (This was a long time ago, so no need to worry about it now.)

For printing, I ended up buying a wired netgear parallel port print server for my old HP4P printer. You just plug it into the parallel port and plug a network cable into the other side of it to your network. It gets an IP address, then from any computer you can just add the printer using a network port. The windows thing works too, but it's a pain in the neck. (at least it is for me.)

-David