AutoCAD does allow you to export your drawings to the PostScript format, see the Exporting to EPS section of the AutoCAD to Photoshop tutorial for details. However, as you may have discovered if you have tried, this option often gives less than satisfactory results. By far the best way to create Encapsulated PostScript files from AutoCAD via the Plot dialogue box. However, before you can plot to EPS, you must first set up and configure a PostScript plotter on your computer.
In most cases, when you plot a drawing in AutoCAD, you are sending the plot to a physical plotter and the result is a sheet of paper with your drawing printed on it. However, it is also possible to plot to what is usually known as a "logical" or "dummy" plotter. The plotter does not actually exist but you can use the plotter configuration settings to create a file in a format specific to that plotter. To create EPS files, all you need to do is to add a plotter that uses the EPS format and then configure it to plot to a file rather than to a physical plotter.
Although AutoCAD does not automatically create a PostScript plotter for you when the software is installed, all the necessary files are copied to your hard disk during a standard installation. In fact, all you need to do is to follow a simple wizard.