I'm tired of always trying to figure out how I set this up. So...well, there isn't much to set up since I made it into an extension (doh! forgot about that). So now, all I have to do is install the attached extension.
I originally used the MultiSave extension, but it quit working or something. Besides, I wanted a more direct way to export things to PowerPoint (i.e. without having to open another dialog). So I modified and updated it and we have the following:
File > Export to PDF for Web: Compresses images and creates a PDF in the same location as the original document.
File > Export to PowerPoint: Creates a .ppt file (aka PowerPoint 97) in the same location as the original document. At some point, I may update this to export to pptx instead.
Toolbar button > Export to PDF for Web: Same as above.