but keep in mind, that if you use HTML formatting, then the user *has to* use a webbrowser to view and print it - you will not be able to give the user a "Print" option within your program.
besides, remember the differences between different rendering engines used in webbrowsers nawadays - IE6 has it's own way of handling HTML, more and more popular FireFox tries to be 100% w3c specifications compliant. result? you can have a HTML-formatted document look completely different on those two browsers (sometimes even unreadable on one of them).
so, in a few words, here are the drawbacks:
1. no way of implementing "print" within your program;
2. possible problems with formatting on different webbrowsers;
ok, now the idea, how to get over them: I'm sure I've heard about a Delphi (and Laz?) component to display HTML-formatted documents. you could use such a thingy to have a report, formatted in HTML, displayed and printed from within your program - and the user wouldn't have to use a webbrowser, so the there's no problem with different handling of HTML.
HTH
mike