It appears to be a Windows 7 64bit problem (and/or HP Printers) - enter link description here
I am pleased you have posted this problem as I have Quicken XG 2004 (the final release in UK) although I have had Quicken for a lot longer than that (at least 12yrs in total) I don't print a lot from Quicken but your post prompted me to do so seeing as I have Win7 (64bit) and I get the same problem - exactly as described in Link ie: "When i try to print a report the printer acts like it is going to print (i.e.. the carriage moves, etc.) but nothing prints. Nothing shows in the print queue"
So you are not alone!