I agree with
fletch. I've been using PSE (since 3, now 7) for quite some time, even shooting RAW.
Now I've started using Lightroom and I switch to PSE if I have to do something LR is not capable of doing (e.g. Photomerge-Panorama). Lightroom only costs a fraction of PS CS4.
I like Lightroom a lot, it seems a lot more logical and organized to me than PSE, all the controls right at your finger tips, not hidden in menus. Also, in LR all edits are non-destructive, all the adjustments are recorded as adjustment instructions, and not in the image itself, meaning you can always go back to whatever point of development you want.
But you probably need to know a little more about developing a digital image than with PSE. Also, Lightroom is excellent for organizing images.
I am quite happy with the two options, rarely ever going to PSE. One of the reasons for me for net getting PS CS4 is the knowlegde you need to understand the tool. As far as I can see it's not that easy.
Beat Gossweiler
Switzerland