Hello Philip,
When I use PDFCreator version 1.3.2 and my setting has "embed all fonts" checked, the resultant pdf viewed with Adobe reader, File/Properties/Fonts, has the fonts not flagged as embedded - that is, they do not have "(Embedded Subset)" following the font names - Courier, Times-Bold, Times-Roman - first Type1, latter two, TrueType. When I use PDFCreator version 1.2.0 and my setting has "embed all fonts" checked, I do observe "(Embedded Subset)" following the font names - TimesNewRoman, TimesNewRoman,Bold - both TrueType.