I've used PSE 1&2 for as long as I can remember and just recently upgraded to PSE4 and absolutely love it. Some people will cringe.. but just the addition of the photo organization (album) is well worth it to me. It was really the best money I spent this holiday.

If you are on the fence, download the trial version off of Adobe's site. If you do decide to buy it comparison shop with the local brick and mortar stores.