Thank you, Barb! You're brilliant! The problem was indeed that the "Use Acrobat Distiller..." option was selected in the Publish Settings. If that's not a default setting, I must have changed it at some point not realizing that it would affect the Save as PDF command in the File menu. I deselected the option and tried again. It didn't work at first, but after restarting FrameMaker, the change took effect and I'm back to a normal printing speed. This eexperience is a good example of how the plethora of settings distributed across many dialogs in Frame, Acrobat, and Windows can be confusing to all but the most experienced users. In any case, many thanks for helping me to fix this vexing problem.
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