I've tried Photoshop CS3 now and am very dissatisfied.
Photoshop gets bigger and bigger, and most innovations are the usual steps of image editing, just combined into what they call "big groundbreaking new features".
I don't know any reason to buy every few month a new version of this 2D-image editing app, - what great improvements do it get for my money except for always having the newest version?
I have to buy a new mac with every photoshop version, that helps appleadobe, but what are my benefits?

It gets more bugs and is bloated and slower and slower with every version, and is far away now from the fast and simple task of 2D-image-editing/designing.

I'm a photographer and graphicdesigner and work in this business since 20 years now.
I've made high-professionell retouching on Macs with 200 Mhz, and now with 2x2000 Mhz, but overall it needs the same time to finish my work.
I really don't see any benefits in my daily tasks with this new version and the last 2 versions.
Since the invention of layers in 1994 and the actions in 1996, what really big invention happened since then, what made my daily work easier?
Yes, the text-functions where overhauled in 1999 and the vector elements of the same year where really useful in some situations, but then? Yes, some gimmicks and many time-consuming kiddythings popped up here and there in the app, but for serious work, what was better?
For me photoshop was finshed with version 5.5, if you wanted vector-editing, version 7 was your one, but now, what happened the last years?

And if you've made all needed configurations, configured your workspace, the brushes, styles, curves, and the like, and everything is set up the way you want it, it's individuall and "your photoshop" then, what happens?
Yes, a new photoshop version is on the market, - you can't win this race.

That all is not about good or better or faster image-editing, it's just about money.
I have to pay the updates for 6 machines, 6 mac-workstations. May wife was right, let's make fine holidays instead, and that's what we are doing, sorry Bruce Citizen, sorry Steve Jobs, I'm not your dairy cow anymore, it took me some time, but I think I'm to old to not understand your moneygrubbing tricks.
So, no new mac, no new adobe app the next three years, and believe me, my work will continue as usual...

Elements 6 will be my last purchase for a long while, and that only because I use Camera Raw and "of course" there will be no more Camera Raw-Updates for Elements version 4 soon.