In Word-5, EndLink must be in the same folder as the Microsoft Word application itself. The filters can be anywhere. EndNote is not particularly memory-hungry. It is not a large application. There are some file-naming rules that must be followed.
Details are in the manual.
There really is no recommended way, but the manual talks about several methods. You can print directly from the application. You can copy references to the clipboard and paste them into some other application for printing. This actually one of the more important and tricky elements. The manual deals with author information in great detail.