Last year I promised to reimplement the Yap 2.4 render method. Work has almost completed and I am planning to roll out the new version real soon.
Effective with Yap version 2.9.4063, there will be two render methods (menu View->Render Method):
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Pk: The Yap 2.4 render method (see below)
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Dvips: The DVI file is rendered using the Dvips/Ghostscript combo
More abpout the MiKTeX 2.4 render method
The MiKTeX 2.4 render method works as follows: text is rendered using bitmap fonts (PK format) and EPS figures are rendered using Ghostscript. This is not an exact render method. For example, rotated text will not be displayed correctly. But it is faster than the Dvips/Ghostscript combo and the text usually looks better.