I just upgraded to Photoshop Elements 4 and ACR 3.3. After converting a Nikon D200 RAW image I can only save it as a .dng file. Since I also use Photoshop CS for post-processing it will not work with .dng files. Is there any way I can save my converted RAW files with a .psd or even a .tif extension so that I can continue my post-processing using Photoshop CS?

In the Camera Raw plugin window, click "Open" (the button name may vary depending on Photoshop Elements version) - the image opens as a regular document and you can save it to any format using "Save As" dialog.