The PDF option in OS X is pretty limiting--you can't embed or subset fonts, and you have no control over compression or downsampling of images. Basically, you have none of the options that you have with Distiller.
When will Distiller be carbonized? Probably never...I'm still waiting for someone to start a class action suit against Adobe for selling Acrobat 5 with a "Built for OS X" sticker on the box
You can use your TT and T1 fonts in OS X just fine.