Me too!
Never seem to learn - constantly click the "Update" button the minute anything becomes available, and lately, it seems, more and more of these updates are shafting me.
Have exactly the same problem as the original poster - which manifests itself on all three of my currently operational Macs, so I'm fairly sure it's a software (update) issue.
I take a list of my CDs with me on my iPhone as I can't possibly fit all my music on it, and I can't remember all of the CDs I already have, so a PDF of my collection covers my butt when I scavenge through secondhand stores or sales.
However, this latest update (iTunes 10.2.1) produces a 293 page PDF whereas only the first 31 pages have any data. From my various experiments, it seems that the end product is usually about ten times the length (page-wise) that it should be. No big E as the file is not much bigger (MB-wise) than it should be, so I still take this bloated file with me, but really, how did this cock-up creep into a perfectly decent function?
As an aside, why does the "Albums with songs" option weigh so much? I appreciate it has an average of 13.8 songs an album and some cover art to include, but the same info source ramps up from 4.5 MB (album list only, no art) to 532.7 MB (and lo and behold - 293 pages as well! Could that be a clue?), which given the postage stamp size of the album covers that it includes seems outrageously inefficient.
Food for thought... from Tony