In addition, the Windows generic printer driver will generally buffer the page and it won't come out of the printer right away. Issue SET PRINTER TO after you've created your output to close the print job.

I also recommend you check out the section on TEXTMERGE in the help file. Try this code:

set printer to name getprinter()
set console off
set printer on
set textmerge on

\\current date and time: <>

set console on
set printer off
set textmerge off
set printer to