Missing or Garbled Text Printing from IE9 to Adobe PDF Printer:
http://support.microsoft.com/kb/2522987
I had a feeling what I was seeing was IE9 related but didn’t have a chance to go back and figure out what. Thanks to Michael McElrath, now confirmed that yes, it’s due to IE9.
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There are a lot of recent kb’s about XPS printing problems for some reason. Not just for IE 9.