I want a static (non-eDoc) product that allows the user to choose print and ship, download the print-ready file or both print and download. Is this possible?

This is possible.  To set this up you will have two considerations - allowing the user to choose the delivery option and sending the print-ready static file.
Allowing the user to choose the delivery option:
To allow the user on a single product to choose between:
a) print and ship the item,
b) download the print-ready file
c) both a and b
You will need to have an area where the user can make this choice.  Two ways to present the choice would be:
  1. Use a pricing calculator pricing engine in which one of the parameters would be a choice between these product types
  2. Set this up as a kit product - The kit would have three components - downloadable file, print file and value pack/both.  You would set up each component as a separate product that can only be ordered in a kit.  Then you would create the kit product.  On the kit product, you would set the pricing to "Total pricing for each selected kit component."  On the Kitting tab, you would set the minimum quantity for each component to be zero and the maximum to be the max you would like them to be able to order of that product.  The user will be able to order how many of each option they would like to order and set a zero quantity for the options they do not wish to order.  See this article about kitting:  Ch. 055 Products (Kitting)
In both of these options, remember that weight will be a consideration for the shipping depending on the delivery option they choose.  Make sure that your pricing engine sets the weight of the product to zero if the user chooses to have the print-ready file be emailed.
Emailing the static print-ready file:
To email the print-ready static file, you would use Pressero Assets (Admin > Sites > [Site Name] > Assets). You can add a product asset to your store setup, and allow it to display on the product page for download. You can also wait until after your customer completes the order and then send a link to download that asset file. For those that use an approval process, this link will not be sent to the customer until the order has been approved. 
Go to Admin > Sites [Select Site] > Assets. If you create or edit an asset here, you will want to select “Product” from the “Usage For *” dropdown.  If you want a download link to be available on the product page select "Customer Can Download."  To Include in Email Notifications select "Include in Email Notifications." Pressero will include a link in the order confirmation email sent to the customer so they can download the asset. This option allows you to only give the customer the file after they pay for it and receive their confirmation email.
For more information please refer to the link Ch. 058 Assets
**Note that if you are using the kitting option, then you must attach the asset to the kit product and *not* to any of the individual kit components.