> 1 - If we were to convert the Postscript version
> to Open Type using Conversion Software, would we
> be breaking Font Laws by doing something illegal?
That depends on the exact terms of the End User License Agreement (EULA) that is between you and the font vendor. Some vendors allow user modifications of the fonts, others don't. What you surely are not allowed to do is distribute the converted fonts.
> 2 - If we were to convert this font to Open Type,
> what problems could we possibly experience later
> down the road with Rips when trying to print the
> job?
This depends on whether you convert the font into OpenType TT (.ttf) or OpenType PS (.otf). I wouldn't recommend converting Type 1 fonts into OpenType TT fonts since the outline point coordinates are converted into a different curve system which may result in minimal inaccuraties.
You can convert Type 1 fonts into OpenType PS fonts using Adobe FDK for OpenType or using TransType Pro by Fontlab Ltd. (http://www.fontlab.com/transtype/ ).
When OpenType PS fonts are sent to a PostScript printer or RIP, the printer driver usually converts them to PostScript Type 1 fonts. So in the PostScript RIP, both OpenType PS fonts and Type 1 fonts arrive as Type 1 fonts.
When OpenType TT fonts are sent to a PostScript printer or RIP, the printer driver sends them in the TrueType native format (Type 42) or converts them into Type 1 fonts, depending on the user's settings. But generally,
Adobe documents common problems with OpenType fonts (mostly with OpenType PS fonts) at:
http://store.adobe.com/type/browser/OTReadMe.html
Regards,
Adam Twardoch
Fontlab Ltd.