Can you create a book and table of contents in Acrobat?

To be very clear, Acrobat is not a page layout program. Text entry and edit within Acrobat is primarily for minor touch-up and emergency repairs, not authoring.

Depending on the type of content you wish to produce, in terms of Adobe products, either FrameMaker or InDesign may be appropriate.

FrameMaker excels when dealing with structured content, internal links, variables. footnotes, equations, etc. (And the newest version of FrameMaker just released directly generates PDF, no more distillation of PostScript!)

On the other hand, if your creating graphic arts content with live transparency, color management, and sophisticated graphics content, InDesign is the appropriate product.

Both FrameMaker and InDesign are professional authoring / layout products that have very steep learning curves.

          - Dov