Now, when you upload files to Google Docs, a new option tells Google to convert the text from PDF and image files to Google Docs documents. The feature was released last year as an experiment; "– check the "Convert text from PDF or image files to Google Docs documents" upload your scanned images (JPEG, GIF, PNG) or PDFs, and Google Docs will extract text and formatting from the scans for you to edit away. "This document contains text automatically extracted from a PDF or image file. Formatting may have been lost and not all text may have been recognized," explained Google in a note included in the document.
Also, ABBYY Online wasn't able to produce much better results: