When letting Photoshop determine colors (as the option is now called in CS2), i.e. selecting a paper profile in Photoshop, the Print Preview in the Epson driver remains useless so might as well be skipped.

Which reminds me - an Epson tech guy at the pacprint tradeshow mentioned that due to changes in how printing out of Photoshop is handled in CS2 (not at a user level, behind the scenes) Epson felt they'd lost an advantage they previously had over Canon and HP. I didn't pursue this further, but would be interested to know more if any hardcore color/printing person has an opinion. And on a broader scale it'll be interesting to see the implications down the track if this is correct.