It has fewer plug-ins than PS and I'm fairly sure it doesn't support RAW images directly (PSE3 now does). This can be a pain if you work with RAW very much, unless you are happy to use a different program to convert the RAWs to another lossless format, although I think that working directly with RAW must be better.
It may be easier, but I don't see where it's "better".
An important advantage of Photoshop over the GIMP (as well as most any other similar program) is that there are more people out there using PS, so it's easier to find help or how to do perform a given task.
Excellent point! OTOH, GIMP has a large community that's always been happy to help out.
Photoshop is simply more professional, has more, does more and creates a better workflow.
Very true. It's about 1 "L" more expensive, too!!
Starting out on a budget, I'd suggest Elements 3 and the GIMP are the best options. As I said above, after converting in RSE, "I usually only go into PS to crop, resize & do some final sharpening with an Action unless it's a complex shot." Almost any imaging utility will work for that, & I've had no compelling reason to upgrade from PS7.
