@ChristopherTD, the one you have from Fictionwise is an eReader format PDB. niche99 is a PalmDoc format PDB. PDB is just a compressed .txt file.
@niche99, The issue is paragraphs delimitation. The output is putting the entire text into one paragraph. Splitting happens on paragraph boundaries and since there is only one it cannot split. Try the print formatted paragraphs option.