Windows Server 2003 R2 Print Management Console - what can it manage?

A few other queries have been filtering through since Windows Server 2003 R2 went "RTM" last week. One such query relates to whether the Print Management Console in Windows Server 2003 R2 can only manage printers which are on print servers running Windows Server 2003 R2. This is not the case. Only the server(s) running the Print Management Console need to be running Windows Server 2003 R2.