Final update in case any other user is struggling with the same thing. An attempt to convert the document to DOCX format failed after two days plus (stalled at 67%). The above mentioned "Print PDF" command (done by right clicking within the reader window) failed as described.
A conversion to RTF format was done in 8 minutes.
The conversion failed to figure out some text boxes in the document that were scattered throughout (to highlight points) - we are still figuring out if they simply blend in to the adjacent text or have hard page returns. But for the purposes of being able to print a hard copy to mark up (it is a study guide), the mission was accomplished.
Perhaps I am not patient enough, but a several day stall-out seems like a failure to me. Now that we have a hard copy I can simply let it run on the more powerful desktop and see if it ever converts it.
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