I myself use the DLink 323 as both network storage and a print server but your situation is still easy. Unless the laptop is a work machine with domains and stuff in which case I can't help you.
1) Hook both printers up to the desktop. You probably have enough USB ports. If not, get a USB 2.0 powered hub for about $20.
2) Share the printers from the desktop computer.
3) At this stage, both printers are visible and usable on the desktop.
4) Make sure the laptop and desktop have the same workgroup. In WinXP, this is a) my computer, b) right click, c) properties d) Computer name, e) to rename a computer or join a workgroup, and give it something other than the default of MSHOME or WORKGROUP. Do this for both laptop and desktop. They should be the same.
5) You should now be able to see shared resources from either machine.
6) From the laptop, add a printer. I think you will see the desktop as a server and when you click it, it will open up and show you the two printers as well. Install both of them.
7) By the way, you should also share some of the desktop hard drive space to back up your laptop data. Laptops are much more likely to break or go missing than desktops.
Lastly, I have bought only networkable printers (those with an ethernet connection built right in) for the last couple of years. They connect to your router or switch rather than any one computer. They are trickier to set up but once they are, they are independent of which computers are on.
Have fun.