Pros and cons of using nested C++ classes and enumerations?

What are the pros and cons of using nested public C++ classes and enumerations? For example, suppose you have a class called printer, and this class also stores information on output trays, you could have:

class printer
{
public:
    std::string name_;

    enum TYPE
    {
        TYPE_LOCAL,
        TYPE_NETWORK,
    };

    class output_tray
    {
        ...
    };
    ...
};

printer prn;
printer::TYPE type;
printer::output_tray tray;

Alternatively:

class printer
{
public:
    std::string name_;
    ...
};

enum PRINTER_TYPE
{
    PRINTER_TYPE_LOCAL,
    PRINTER_TYPE_NETWORK,
};

class output_tray
{
    ...
};

printer prn;
PRINTER_TYPE type;
output_tray tray;

I can see the benefits of nesting private enums/classes, but when it comes to public ones, the office is split - it seems to be more of a style choice.

So, which do you prefer and why?