What is the best version of Photoshop for digital art?

I have Photoshop Elements 3.0 that I got with my new Wacom, but it is very basic. I know Photoshop is an excellent program to do digital art with, but I was wondering what version you guys think is best. The Cs line is really expensive so what do you recommend below that?

(Oh, and does anyone know how to pronounce Wacom?)

What is the best version of Photoshop for digital art?security

(Hey, I don't think anybody knows how to pronounce Wacom...)

As for Photoshop, Elements 5 (PC) or Elements 4 (Mac) are the latest versions. I teach both. But there are limits to what they will do when compared to CS(original), CS2, or the new CS3).

The limits in Elements that might hold you back are things like a lack of Quick Mask, and the fact that they try to force you to use this or that ''auto'' setting - which I promise you are almost always wrong!

The basics to good photo image management are the same at all levels. (I've simplified them as much as possible on my web tutorial at www.jimsdigitaldiary.com.)

One alternative might be to see if you can find - and buy - a legal version of Photoshop CS or CS2 (now that CS3 has hit the street). You'd pay a lot less and get enough ''pro level'' features to keep you working creatively for a long time.

I do all of my creative work in CS. I may upgrade to CS3 after the new Mac OS comes out in October. But, for now, I find CS to be very satisfactory.