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The "good one" is Photoshop CS. Around $600.Scuba65:I think it's 2.0...hmmm...
I will have to disagree with you that Elements is only good for 'simple things' like red eye removal and to lighten up a picture. You can still do a lot with Elements.StevenB:Are you a teacher, taking any classes, have any kids in school? If so you can get the educational version at less than $300. All they require is a student ID card.
If you need a photo tool that will give you all kinds of control over your photography and deliver professional result, get Photoshop CS, its the best and by far the most popular. If you just need to do simple things like get the redeye out or lighten up a picture, Photoshop elements will be adaquate.
SteveB