If I had a choice between CS3 and Lightroom (while using CS2), I'd pick LR in a second. Yes, there are some cool and useful new features in CS3! But I'm doing 85% of my work now in LR, less and less in Photoshop and when I do, the tools are pretty basic and found in earlier versions. I do love the new switching in CS3 and smart filters are useful. But you'd have to pry LR from my cold dead hands based on the amount of work I can do in that product. Just having a handle on all my images (where they live, finding them) or the superb print module are worth the price of admission.
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Here's from just a 'regular' user of LR if that's helpful. I've used PS for years, I do have PSCS3 also, got LR as a licensee of RSP, upgraded to 1.1. I used the beta, liked it, but when PSCS3 came out, I abandoned it because I already used Imatch as a DAM, print from PS, etc. IOW, I couldn't see the advantages since they both had the same RAW engine.
However--I bought the Camera to Print and Michael and Jeff used LR a lot, talked a lot about it, so I went back and bought the (real bargain for $14.95) LR tute and got myself up to speed on LR. They piqued my interest in it again and I'm glad they did.
I discovered I had some misconceptions about LR and what it could do--and so now--I've integrated LR into my workflow or am in the process of doing it. I find myself using it more and more--and found the round trip to PS easy. The biggie for me was that I find using the library so much easier than Imatch--really pretty intuitive (well, not always LOL, but way easier for me than Imatch). I can find everything from over 5 years AND I have 4+ years archived and referenced from external HDs--something I didn't think I could do. Editing is terrific with it.
Then--I 'thought' I liked the tab arrangement of the RC better in PS--mainly because I'm used to it (in the past, I actually used 3rd party RCs) now in CS3. However, after using the Develop module in LR I find I like it MUCH better and it also has a few extras.
So--if I was choosing, I would buy LR, continue to use CS for editing (you can export and work on it if needed or do a 'round trip' bringing the file back to LR but with the edits you might have had to make in PS included).
I can't say how much more I'm using it than PS--but quite a bit. I have yet to print from it--mainly because I can't softproof or sharpen as I prefer for output (PKS), but I am going to do a 'test run' today on printing and see how it does vs. a print out of PS. I suspect that it is easier than printing from PS, but maybe needs a few more options.
Hmm--I notice Andrew really REALLY likes the print module, so that makes it worth my while in trying it. If he likes it, it has to be pretty good. If he reads this, I'd be curious if he finds it limiting without softproofing and what seems like pretty basic sharpening as opposed to PKS.
Just my couple cents worth,
Diane