Well on the MAC you don't need acrobat. If you dig around, you can create a compress pdf script. In the automator you can chose what level you compress the jpg files and that often does a good job.
However, the best one I found, (not for yourself in this case) was Neooffice. If you don't already have a pdf but are wanting to create one from say a word or excel formated file, it gives really good results straight away. Much better than Microsoft or Apple's defaults.