Use that all the time for client proofs - but never do it for a printer - just too nervous about the loss of info - I think it use JPEG compression on the images too...
Tend to drop EPS files into distiller set to 'press quality' - usually gets the job done just right.
For larger projects I still tend to hand them the collected Quark files
- What's the best practice for ripping PDF's from a large Quark Doc? (and yes we have ID and I'm slowly moving over)