Check this thread for System Restore answers...
My system restore does not work for any date?
http://www.tomshardware.com/forum/265864-45-system-restore-work-date
If nothing helps making SR work, you'll have to disable it and reenable it to make it start creating new restore points so it works the next time you need it. The previous restore points will be deleted but they have most likely become useless up to this point.
To disable SR: Control Panel > performance and maintenance > System > System Restore > put a checkmark on Disable System Restore.... Restart the computer and remove the checkmark to enable System Restore.
Another method on How to Repair Windows XP System Restore
http://www.ehow.com/how_5458598_repair-windows-xp-system-restore.html
If none of the solutions helped make SR work so recovering the printer wasn't possible, you can download the Printer driver from the HP website... this solution is probably easier than recovering the printer through SR: Download the Printer Model driver > execute the downloaded .exe file to extract the driver files to a new folder > right click on the ".inf" file and select Install, next go to the Printers folder (Start\Printers and Faxes)... Click on Add new Printer > select Local Printer > Next > A list of one to a few compatible drivers will appear... If the printer model is in the list, select it and click next... the printer will be installed.. And if the printer is not in the list, click on "Have Disk" > click on Browse, and browse to the folder where you extracted the driver files, select the .inf file, and next click on Open.. the printer will be installed.
If you have trouble finding the correct driver, I can probably find it for you with the exact Printer Model posted here.