how to set up m775z on redhat 5.8

Our company recently got new 700 mfp m775z printers. It's not clear to me how to set them up on our linux network.
I've downloaded hplip, but it's not clear to me how to use it, and/or how it's supposed to interact with system-config-printer.
In system-config-printer, it found the printers. It seemed to identify the model as hp laserjet 700, with two options: simplified/recommended, and not simplified. Neither of them allow printer settings. So...

1) How does one set up an HP network printer? Is hplip the preferred way, and again how does this relate to system-config-printer?

2) How can the printer settings be enabled, e.g. for paper size?

3) I found a ppd file in the hplip download: hp-laserjet_700_color_mfp_m775-ps.ppd. Should this work better than what came up in system-config-printer?

4) Should the approach for redhat 5.8 be different from redhat 6.5? What I found implied that 5.8 is not supported.