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In magento 1.4.2, when using address with 4 lines (street1,street2,street3,street4), if the customer selects to use the shipping address, it doesn't save street2 to the database. This can be seem in any 1.4.2 installation, also it doesn't save the address to the customers address book if him checks it to do so. This problem was fixed in 1.6.1 (maybe in 1.5.0 too) but upgrading isnt an option.
The job is to identify why magento doesn't save street line 2, and fix that. Also fix the saving to the address book(but this later has been fixed, and its available in blog posts which you can find in google)
Attaching a file that shows the error.