There are two kinds of issues - 1) Lens distortion and 2) perspective corrections. Lens distortion is inherent in the optics, perspective distortion comes form how you position and orient your optics in the scene.
As @imsellingmyleftfoot does not elaborate on his/her mysterious comment, it is not really possible to tell what they are getting at. Presumably they wanted you to have purchased a tilt-shift lens so that you can maintain parallel verticals by making movements within the optics to preserve these structures. If so, I can imagine it would have been helpful to have mentioned that.
EDIT - I posted after you folks already had the conversation above. Mystery solved.
Because you do not have a tilt-shift lens, you will need to correct your images in post to preserve parallel verticals. There are a number of ways to perform these corrections but not necessarily inherent in CS5. To correct the lens/optics distortion you will need something that has a "lens profile" or similar. This kind of correction may be available for your camera body+lens in ACR/LR, otherwise, the king of all optical corrections of this sort is DXO Optics Pro. Either way, this will correct for the optics. The Lens Correction tool in PSCS5 - again assuming you have a lens profile available for your camera+lens combination - would be similar to the ACR-LR correction.
The Lens Correction tool aslo has perspective correction (horizontal and vertical). Some tools, like DXO Viewpoint, have a "force parallel" or similar perspective correction that permits you to select the 4 corners of a keystoning object that should be parallel and the vertical and horizontal perspective correction is applied automatically. You can also use a panoramic stitching tool like Hugin (free) and tell it to correct vertical lines that should be vertical. It will perform a warp of the image to force those lines to be vertical.
The downside of all of this correction in post is that you will lose image pixels to the correction. Plan for this when shooting. Note that in PSCS6, there is an additional tool called the "Adaptive Wide Angle" tool that you should look into to see if using that approach is worthy of an upgrade. I can imagine that you can google the term and a few videos will pop up.
I have not used the lens you have, so I do not have a specific recommendation for the approach.
If you need a little inspiration, here is the portfolio of michael james, a real estate and architectural photographer who is active in the HDR community and does not, to my knowledge, use a tilt-shift lens.
http://digitalcoastimage.com/portfolio/index.html
here is his blog:
http://hdriblog.com
and here is a webinar:
Part 1
http://www.youtube.com/watch?v=mdRogMSf4Tk
and Part 2
http://www.youtube.com/watch?v=bKVIsztmmcQ
kirk