You use outdated products I'm afraid this isn't going anywhere. PM7 came with an older version of Distiller to export content to PDF, but is unable to use anything newer from current Acrobat versions since it simply doesn't know how to address the updated PDF libraries. Your best bet therefore would be to find a PDF printer driver and hope it's compatible. You don't need any Adobe software for this. If it works, the free GhostScript with PDF extension will do and of course there's a number of commercial alternatives, too, all of which cost a fraction of what a full Acrobat license would.
you can use Photoshop 7 and PageMaker 7 (with two updates). Really no problem
in Windows XP. Probably a problem in newer operating systems.
Photoshop 7 is equipped with a very reasonable Color Management System.
For PageMaker you'll need a Postscript driver and Distiller. Please ask here:
This combination works perfectly, unless you want to handle so called live transparency.
Standard on/off transparency (PostScript) is fully supported.
Then it's possible to create perfect PDFs for inkjets, wide format inkjets, toner printers
and offset printing (PDF/X-1a for instance).
Almost all docs here were made with Photoshop CS2 (or older versions), PageMaker 7,
MathType and the PostScript editor PSAlter for technical illustrations:
Only recently I had converted everything into InDesign CS2 and newly converted to PDF.
I've installed as well CS6 (Photoshop, InDesign, Illustrator), but mostly I'm using CS2.
By the way - here you are not directly talking to Adobe ...
Good luck and best regards --Gernot Hoffmann