I haven't found this issue; sorry if it's a duplicate. Recently I was trying out my CS3 in advance preparation for my newly ordered CS5 and to my surprise Photoshop wouldn't start. A search found that a routine update from 10.6.2 to 10.6.3 causes the problem. It has to do with Apple adding another character to it's new line of hardware which have 12 character serial numbers (my 2009 13" MBP has 11). Apparently when Photoshop CS3 interfaces with 10.6.3 which recognizes the 12th character, Macs with 11 character serial numbers stop loading. This does not occur with CS4, just CS3. Fortunately I hadn't backed up my standby boot drive so it still had 10.6.2.
Thanks,