What OS you running? Windows Tablet PC, Vista, and Windows 7 RC has the snipping tool which is the closest I've found to what you're asking for. One click to crank app, select, click print button.
Still, context menu / right click print would be useful but with Windows architecture no way you could do free-form areas without cranking some type of screen cap tool so you can select the region (say if you wanted images and text).
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MarcWomack.com
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