Now that support for IE 5 has been dropped, why not remove the link to the printable version, and replace it with the JavaScript window.print() function (supported since Netscape 4 and IE 5 (beta2) ).
In the past the arguments against removing printable were
1: IE5 doesn't support print stylesheets
2: When removed, people don't understand how to print
So now that IE5 support is dropped, why not tackle problem 2 with a JavaScript link to print. The link can be hidden from people who disable JavaScript, and the rest of the users don't have to ponder what "printable version" does.