Conversion Tools ⇒ dvips outputs blank characters with -P pdf

[vshvetsov]

Hi, I have the following problem: dvips creates a blank output, if a -P pdf option is used, and the [russian]{babel} package is included:
\documentclass{article}
\usepackage[cp1251]{inputenc}
\usepackage[russian]{babel}
\begin{document}
Hello, $E=mc^3$
\end{document}
I can see "Hello", only if I comment out the \usepackage[russian]{babel}, or clear the -P pdf option, otherwise I see the blank space in front of the formula in the output (note that russian characters are actualy not used).
I use MikTex2.9, TeXnicCenter1.0, dvips is called from a build profile LaTeX=>PS=>PDF. The log is as follows:
...
Trying to make PK font larm1000 at 8000 DPI...
miktex-makepk: Specified BDPI (8000) doesn't match ljfour resolution (600).
This is dvips(k) 5.99 ...
(here I skip a few lines, and then the error message comes)
... Font larm1000 not found; characters will be left blank.

Please, help me to solve the problem. (Please, keep in mind that the advice like "just install T1 fonts..." is not enough, I would ask for some explanation on how to do it). Thank you.