If you have installed the April 2010 Cumulative Update or later for Outlook 2007, you will notice that word-wrapping has been added to the print views for Monthly and Weekly styles.
That's pretty cool - and has been a lingering and frequently requested change in Outlook 2007. However - there was a problem with this updated print feature, in that is omits the Ending Time on appointments. Quite a few customers have reported this issue, and I'm glad to say that a fix is in the works and is due to be released with the October 2010 Cumulative Update for Outlook 2007.
Additionally - Outlook 2010 should be getting these changes in SP1 when it releases. This will significantly help with customers who have gone to the Calendar Printing Assistant because the Calendar printing in Outlook 2007 left a bit to be desired.