The most significant difference is that BSD uses a printcap file to describe the capabilities of each printer so that typically the same lpr command with identical options is used for a large number of different printers. In System V, the differences are addressed in an "interface" file which is unique for each printer. Varios -o options can be defined for various printers. The other big difference is that System V is more limited in the way that remote printers can be used. There are only a few supported printer options for remote printers.
If it ain't broke, I can fix that.