Well, I wish it would do that, but not quite.  You start with a form (or anything that you want typeable fields in) using a word processor -- I use WordPerfect, but you can certainly use Word or OpenOffice.  You "print" that to CutePDF.  Now you have a pdf version of your form.  the pro version of Cute has "Form Editing" in their toolbar.  Hit that, and you're ready to do blocks of info on your pdf form.  Or you can say "checkbox" instead of typeable data. (I'm pretty sure the full blown version of Adobe also does that, but it's a large, expensive, cumbersome program compared to Cute.  the "append" function on cute makes it super easy to rearrange and/or attach pages of different pdf's into one file -- hence my ability to be completely paperless.)

It's hard to explain in a way that makes sense unless you see it and do it.  I'm going to send you a copy of my forms via e-mail.  You open it with Adobe Reader just like any pdf that you get in and you'll see that there are blue areas that you type in.