I think I got it to work. Thanks.
I'm still going to run more test just to confirm it.
It looks like if going with this approach (using a shared printer on win server), the Printer Name can also be left out blank since it won't matter just like the IP Port/Thin Print.
Now I need to find out a solution where the LBP printer will stick as a default if the user has a local printer attached to the desktop or no matter what default you set in LBP, it will not stick when using View Client to connect.
But if you use BLAST or Zero Client, it will stick just fine. What a PITA. 