Conclusion: For users new to image editing, Photoshop's rather monolithic learning curve remains, and you're better off starting with an inexpensive application such as Adobe Photoshop Elements 5 or Corel Paint Shop Pro XI. Either of those may be all you need. But if you've been waiting to take the plunge, Adobe Photoshop CS3 is a good version to dive into, and if you're a pro considering the upgrade, it's probably worth the AU$345 it will cost you.
Pros: No real enhancements made to meat-and-potatoes masking features, Print layout tools
Cons: Productivity is much improved thanks to speed increases, workflow enhancements, and a more-streamlined interface, Nice black-and-white conversion capabilities, No more ImageReady