Hi O,
There have been other ways for a long time (at least acrobat 5 era) , such as
pstill
or a slicker method: http://www.intellipdf.com/curves.htm
not cheap, but it tells you what's going on. (thx to Todd Miller)
otherwise, Acrobat 7 pro can also convert fonts to outlines (curves) through the flattening stuff.
Here's how to add a transparent watermark, which then lets you
apply the "convert text / strokes to outline" feature.
This is great when someone sends you a PDF with obscure
fonts, and you have to get the PDF into Draw for whatever reason.
Step 1. Document | Add Watermark & Background
Add a simple watermark, with 0% opacity.
Step 2. Advanced | Print Production | Flattener Preview
You can now select the option to convert text and strokes to outlines, and apply it.
Step 3. Export as an EPS or save as new PDF file.
Step 4. for fun, try selecting some text with the touchup text tool. Can't do it? That's good! 
Step 5. Open the PDF or EPS in Draw. Select either text or curves on the dialog that appears, shouldn't matter since the text is all curves anyway.
The geometry for the transparent watermark will be there, so you
may need to search for it to delete it (or just ignore it, if it's not
a big deal to you).
Olivier Fournier:I discover something great today, did you know Ariel that it's possible to vectorize the fonts that are included into a PDF file?
With Acrobat
Jeff Harrison
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