Both Adobe Acrobat 9 printer driver and Word 2010 save as PDF won't generate bookmarks from TOC. PDF Maker would, but 9.3.2 does not work with Word 2010.
Depends whether you are using Adobe printer driver, PDF Maker (with Word 2007), Word 2010 save as, some graphics degraded badly with some settings, worse is sometimes you got colored background for no good reason. Sometimes it also complain about untagged PDF. See below for the PDFs generated from same Word .doc and display in Acrobat or FoxIt 3.3.