Howto should mention to set correct default Paper Size for CUPS - in my case this is A4 - (e.g. as described on http://www.reactivated.net/epson680.php). Otherwise even if setting the correct paper size in KDE print dialog box, the text of the printed pages is cut at the top for some documents (as I searched the internet I found that it affects especially pages created with psnup). I don't know if this affects all the printers (I have Epson Stylus CX5200). (I know it is not a documentation bug, but it is IMHO the simplest way to solve the problem.)
IMHO, rephrasing "The CUPS daemon should now be running, so open up your favorite browser, point it to here and click on Manage Printer. Here you can find your newly installed printer, configure it or print a test page." and fixing the point _here_ syndrome should do the trick or couldn't you have defined the page size on the printer admin page on server:631 ?
You can define the default page size on the printer admin page on 127.0.0.1:631. The problem is, since this is only the default page size, it works even without setting it to A4 most of the time. For some reason (I don't know whether it's the problem with KDE Print, Ghostscript or CUPS) it fails for 'psnup'ped pages even when setting the correct size in KDE Print. So I would suggest to add immediately after: "... Here you can find your newly installed printer, configure it or print a test page." something like: To avoid problems with some documents set the default Page Size to the page size you use (e.g. A4 instead of the default value Letter).
Added to avoid margin problems (top of psnup'ped page cut) to summary for the case someone performs a search on this key words.
Fixed in CVS. Thanks for reporting!