Apps to OCR and reduce PDF file size similar to Adobe Acrobat for Windows ?

Hi folks,

I have been using Adobe Acrobat for many years at work, and two of the most useful function are it's ability to identify text of scanned documents (it also straightens the page at the same time) and to reduce the file size.

I know that it is possible to create a quartz filter to reduce the size of a PDF file in OS X, but Ihave always found it a rather 'hit and miss' affair and very time cosuming to set up. I have not found a credible OCR application for PDFs yet.

These two capabilities are, in my opinion, essential for an OS X based paperless office.
Can anyone suggest effective tools for these two function ?

Ta !