Cannot change printer sharename

I have just upgraded from W98SE to Windows XP
Professional. My peer-to-peer network is working fine
but I cannot share my printer because XP will not let me
use my old share name "because it already exists!". I
would like to avoid changing the name on all the other
computers particularly because of the driver issues
(printer does not have the friendliest documentation or
software)

I have had a look at the registry and sure enough my old
printer sharename is there. I could just delete the line
and I think all will be well (I could then share using
the old name again) BUT this is the registry so I would
like some confirmation that this is the correct thing to
do

Thanks