Pros: Printer doesn't have to be manually added on every computer. If the printer is replaced, you can remove it without people trying to print to something that isn't there. You can also apply the computer to only certain computers that make sense, or set the default so users don't accidentally print to the wrong printer.
Cons: Some group policies are slow to take affect, but running gpupdate /force should make it work.
Deploying printers with active directory is probably the way to go. I would install the print manager feature if you can. Create a GPO for the computers that the printer should be installed on. Install the printer onto Windows Server, then in Print Manager, the printer should be in the printers section under your server. Right click on it and select Deploy With Group Policy and type in the name of the GPO you added. All the settings should be automatically changed. The printer should also be visible in the Deployed Printers section. To test this, open a command line on a client computer and type gpupdate /force, then reboot. the printer should be available as printername on servername. You can easily remove the printer again if you replace it by deleting the printer from the deployed printers section.
I recommend this method, but printers can be added directly to group policy but this has always been finicky for me. Hope that's not to much information.