However running that same original PDF through Adobe Acrobat Pro's Document > Reduce File Size function, the resulting compressed PDF can successfully copy and paste text. I found that I am able to easily copy and paste text from the original (uncompressed) PDF file, but after running that PDF through a Reduce File Size filter I created, the resulting compressed PDF doesn't copy paste clearly (comes out looking like the strings you posted).
I had created some Quartz filters using Colorsync Utility to compress images in PDFs to reduce the overall file size of PDFs with images. I discovered this problem with PDFs I created, and I believe I tracked down the source of the problem: using Mac OS X's Preview to reduce the PDF file size.