Would we expect a PDF template (quote) to be able to access the customer defaultaddress field when linked via a custom list field on a quote? ${record.custbody_customer.defaultaddress} (the custom field is on the quote record and links to a customer record). I cannot get the above to work. Other fields on the customer are accessible to the quote PDF template e.g. ${record.custbody_customer.companyname}

Templates get "one hop". If you have a custom field on a quote record that points to an entity (Customer), then you can get access to those customer fields but not to fields linked on the customer record.

Yeah, I ended up putting a non-stored value field on the quote record to source the address.