For presentations that do not need animations, sounds, effects, or interactivity, printing to PDF is a good way to go. Using the print options, you can adjust the number of pages per screen and even add notes lines. If you have a lot of graphics in your presentations, converting to PDF will significantly cut down on file size.
My preference for free PDF programs is PDF Creator (
http://sourceforge.net/projects/pdfcreator). It has more options that CutePDF, if you want to restrict printing or copy/paste, and seems more stable than PrinoPDF. Since it is open-source, it can be given away to students or your dept., or school can use it without any licensing issues. In the most recent versions, they do try to get you to install a toolbar, and I recommend declining it.
If you need more interactivity, an alternative to Camtasia and Captivate is Impatica (
http://www.impatica.com). It renders the presentation, including multimedia and effects, as a Java applet. Since WebCT uses Java anyway, your students are good to go. I have had good luck even with students who use dialup.