Years ago, long before PAF 5, there was a third party shareware print utility called PAFAbility that came close to what you are asking.
The cascading reports began with the initial line, printing the earliest male ancestor and all of his descendants, moving across ancestral lines and printing the first in each, followed by their descendants.That would give you all of those connecting to the selected family.
Made a wonderful research book!A programmer friend of mine was going to create a similar report using GEDCOM files, but never seemed to have enough time to do so.
Perhaps your question would generate another round of interest.I would love to have that ability again!!Of course, it's better to print to a file than to a printer if your database is huge.