It seems that my Ctrl/PrtScn key press gives me a Convert to text version of a screen capture. Is there a way to get it to work like a normal screen capture?

Never heard of bug/feature in any Windows version! Are you sure you aren't using any 3rd party screen capture software, because I believe this isn't a feature of the prtscn key in Windows...

Examples of 3rd party tools:
* Capture Text
* Aqua Deskperience

It might be Alt/PrtScn, bit I have tried it a number of times. If I open a photoshop new picture and attempt to paste the clipboard contents to it, the paste option never becomes available, and if I attempt to copy it to a word document, I get a textual representation, not a actual screen capture. I am using no auxillary software.

Yeah, probably it's alt+PrtScn. This keycombination is used to only capture current active window in stead of the full screen.

Have you also tried pasting it into Paint or Office Word? Adobe Photoshop has many possibilities to manipulate the printscreen, maybe even before you applied an effect yourself. Also make sure Photoshop is shutdown when taking the printscreen.