So, what's the likelyhood of AirPrint finding its way onto my router firmware? 
It would sure beat running the client from my PC.
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It should be possible through optware + usb drive using cups and a printer that is supported by cups. I don't think this is going to be included in a firmware soon, since it requires quite some flash space
100% possible.
You'll need a TomatoUSB compatible router with at least one USB port, which you can pick up for as low as $24 dollars on Amazon.
Below is a tutorial I just wrote on how to setup AirPrint on a TomatoUSB router.
Keep in mind this isn't bulletproof and fully tested, but it works. Please comment and provide feedback if you try it (working or not working).
[Tutorial] Apple AirPrint on TomatoUSB Router http://blog.qnology.com/2013/03/tutorial-apple-airprint-on-tomatousb.html
As an added bonus, you can even set it up to do Google CloudPrint (some bugs still needs to be worked out). CloudPrint will allow you to print from any computer using Chrome over the internet (it also works with the iPhone Chrome app). You can even share the printer, so your friends and family can use it. Maybe set it up for the grandparents (along with a photo printer) so you can magically send them prints of the grandkids?