I have CS4. I do interiors, and they require layering lots of individual files together and making lots of selections, layer/layer masks, etc. Files get pretty unwieldy, 1.5~2GB. When all looks good, I do a Layer>>Flatten, then apply Edit>>Transform to get the image perspective perfected. However, if I want to go back and re-work an area, and I load one of my saved selections, it exists in its pre-transformed state. I don't care that individual layers are gone, I can usually get by with some subtle Hue/Sat or Level adjust. But not having the selections themselves get transformed along with the image is a bummer. Obviously, I am missing something when I do a Layer>>Flatten then Edit>>Transform.