No, from my understanding of how clustering works, that's impossible. You can have a fully functioning single node cluster with a local quorum and functioning print queue, but it doesn't offer any failover capability. There's no point to it. As soon as you have two servers that each have their own quorum, you have two clusters, not one, and if they manage to support each other, it's not because of their "clustering" capability. It might be more like load balancing.
I searched all over for something like you describe, and couldn't even find an allusion to it. If I were you, I'd go ahead and spring for a new SCSI-based shared-storage array and the required controllers (I'm familiar with the HP hardware). I can't believe you're supporting that many printers. I'd bet that the cost of 15 of those printers would be equal to the amount you need to spend to get all 950 printing more reliably.
If you need another opinion, ask this question in the Microsoft Clustering forum here on Tek-Tips.
ShackDaddy