A set-up that works very well, and one that I recommend, is that you maintain the latest Acrobat on the OS X side, and use it to create your PDFs. The executive summary is (1) set up printers in Classic using OS X Acrobat PPDs; (2) print PostScript files; and (3) distill in OS X.
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Locate an Acrobat 7 PPD, and copy it to the Classic System Folder's Extensions\Printer Descriptions folder. In OS X, look for ADPDF7.PPD in /Library/Printers/PPDs/Contents/Resources/en.lproj.
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Create either or both of (i) an Adobe PDF printer instance using Desktop Printer Utility, or (ii) a Virtual Printer, properly attached to the version 7 PPD file. To date I have not found any difference in these two. Since they're both attached to the same PPD, I would think their behavior would be the same. Note that these steps have you use standard Mac dialogs to navigate to the PPD file you copied earlier from Step 1 -- if you get to the target folder and don't see the PPD, change its type:creator to TEXT:???? or TEXT:ttxt.
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Set up some good defaults. In the PostScript Settings section, I recommend Level 3 Only, Binary, and Font inclusion=all (but note that you can also choose selections to make EPS, too. In Printer Specific Options, I usually drop it down to 600. If you created a printer using Apple Desktop Utility and one using Virtual Printer, you need to do these for both.
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Print to a file from FrameMaker, using one of these printers. You will find the printing options you are familiar with in the Windows world in the FrameMaker 7.0 section.
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Distill the resulting file in Acrobat from OS X.