Let's set something straight: PhotoShop isn't for everyone. Even experienced users are still having problems managing bits and pieces of it, while beginners should know they have a looong road ahead of them.
But anyone who has the slightest connection with image editing should pick up PhotoShop and start cracking!
After all, all serious figures in the industry use it: 2D or 3D artists, web developers, photographers, marketing specialists, and the list goes on and on.
Of course, PhotoShop is old now (it's been over 20 years since it first started out), so it is only normal that its features have kept up with modern standards.
In Adobe PhotoShop CS3 there are new features included, such as Smart Filters, Quick Selection and Refine Edge tools, advanced compositing, 2D and 3D measurement tools, improved raw-image processing, enhanced Vanishing Point with 3D support, and others.
All these new tools as well as the previous ones can be used to create stunning images that will take your breath away.
Why do you think artists are having so much success with digitally manipulated images on various specialized websites (e.g. DeviantArt) ? Because all of them have become experts in PhotoShop, one way or another.
When it comes to CPU memory, don't expect to have other applications open while you're using PhotoShop. It's a very large and complex program, and it's quite normal for it to eat that much.
Certain features may even get stuck or crash at times, but you can't expect to have them all.
The bottom line is that if you're serious about wanting to make it big in the photography industry, then PhotoShop is the absolute best choice you have at hand.