To quickly print to your black and white draft printer make
a two-step shortcut that does a Switch Printer (to the
b&w draft printer) then select Print from the File
menu. Give it a hot key of Control+P and you'll always
print to your draft printer when you press Control+P.
For color printing you might instruct the Choose Printer
shortcut to select your high quality color printer before
selecting Print from the File menu. Assign Control+Shift+P
to this shortcut and you'll always print to your color printer
when you press that key combination...