This has been changed in Mac OS X 10.2 where locally connected printers can be configured using the printer queue, or through your printer's own printer utility software. Postscript printers use Postscript Printer Description files or PPDs for installed options and configurations.
See document 107004 "Mac OS X 10.2: How to Modify the Print Center Print Queue" For detailed instructions on configuring a printer using the Print Queue.