Do you have another printer to test to on the offending PC?
Check the Advanced button (in the Print Dialog) and verify that "Print As Image" is disabled.
With Acrobat Pro you have Distiller -
Print as normal, excepting toggle the Save As File (somewhere in the Print dialog).
This will produce a .ps file, note the destination of it.
Double click the .ps file or drag it into Distiller.
What is the result?