I did that once - for my 8x12 donut 2 layouts ago. And I even selected the option to not print pages that had nothing on them - like the entire 4x8 center hole of the donut. It took a long time because tahter than suck up countless ink cartridges in the fast inkjet printer, I used the old compact laser printer I got for free from work (plenty of toner in one cartridge, plus I had spares I got with the printer - but it was like a 4 page per minute printer!)
After I assembled it all by carefully taping the sheets together, lining of the registration marks, I rolled it up, took it down to the basement, and unrolled it on the benchwork. After much wrestling, it was finally in place, lined up, and then I went to work with the pounce wheel. Turns out that int he pink foam, the pounce wheel holes weren;t all that visible, so before removing allt he paper (now somewhat shredded by the pounce wheel), I went over all the lines with a sharpie marker. The pounce wheel holes allowed the ink through to mark the foam. Now I had lines everywhere the roadbed had to go, and a huge mess of paper that was falling apart.
Never again.
Last layout, I printed a critical area (right end of the yard) to an easy to use scale, and then transferred measurements - not the curve centers and aligbnment marks, I simply measured on the printed version, found that the frog of the turnout should be say 6 3/4" in from the edge and 17 1/2" over fromt he right edge of the benchwork, and laid the track that way. I didn;t do this for any other areas, once I had the yard in place, I just built around the room. I could have done the same for say the right side, and then filled in the curve, but instread I just started at the yard, laid the curve to the radius I wanted (just trial and error marked it with a stick drilled out to fit on the post of my tripod and hold a marker at the desired radius - wasn't too difficult to shift the tripod so the tangent intersection of the curve with the straight track was where I wanted it). Maybe I should have taken some civil engineering classes, it's like I'm doing a model version to transfer a plan to the physical world.
I have no plans to draw out full size my new layout, either. My plan in 3rd Plan It says I can fit the tracks I want in the space I havem without compromising on track centers or running too close to either the wall or the front edge of the benchwork, so I will start, most likely with the main line closest to the wall behind the yard, and work front from there.
I suppsoed it would be much better to just leave the paper printout at 1:1 in place and put the roadbed and track over it. It won't hurt anything, and you can run a knife along the edge of the roadbed after it's down to remove the excess paper that's not under track - however, how are you planning to attach the roadbed? If you glue the paper down, and then glue the roadbed to the paper, the roadbed will only be held in place by the paper. That would be my concern. You could always do it like a negative - attach the full size printout, then cut out the parts where the roadbed and track go. Then glue the roadbed down, and when done, remove the paper.
--Randy