The issue i was having would happen at system start up and whenever certain programs where started. Due to the type of programs (specialty remote tax programs) and their nature to query the local systems printer list, im assuming that this error reared its ugly head due to a bad driver as stated above. Deleting everything in the spooler folder as suggested and then manually removing all printers from the list and manually re-adding them fixed it.
I will also say that the registry cleaner/optimizer from Raxco (perfect disk guys) does actually appear to kick ass. I actually bought a copy today for 29.99 as it came with perfect disk for "free". After running the cleaner and getting rid of a purported 1200 issues (after ccleaner registry cleaner) and then defragging the registry, the dell 2400 ceased its random explorer crashes/lock ups.
"I think there is a world market for maybe five computers."
Thomas Watson, chairman of IBM, 1943
i5-2500K|Asus P67 Sabertooth|16GB Corsair 1600|MSI 7850 2GB|250gb Evo 840|Corsair 400R|ET750w PSU|Logitech G5|Dell 2420L|Corsair Vengeance 1300