Out of curiosity, I decided to try to find out what had gone wrong with the printer and started to run some basic diagnostics on it. It turned out that the ribbon cable running from the printer head had worn out and one of the wires inside had broken. Like I said, I feel I got my money's worth.
Anyway, I thought I would share this in case anyone else is having similar problems. There was a 7-10 period of intermittent problems that got progressively worse until the printer finally gave up the ghost. If it had been a new model I would have returned it to Lexmark for repair; as it is, it allowed me to upgrade to a newer and better model and be able to justify the purchase to my wife.
Old Corps Gunny
Semper Fi