I'm extremely happy with ACR. I usually come back from shooting weddings with ~500 pics and then cut those down to a proof set of 200 images.
The CS browser with it's ability for multiple setups, batch renaming and batch RAW conversion, and most of all the ability once I've got the colour/exposure right, to batch process 10 steps from RAW file to finished 7X5" 300dpi jpg ready for printing, all with one click, is invaluable!