I bought
PSE 4 about a month ago and have had no speed issues. In fact, the Organizer (photo browser) is much faster than the one in
PSE 3. The Editor loads faster than it does in
PSE 3 too. I have 1 gig of RAM on Windows XP SP 2 and keep my computer up to date, disk clean, defragmented, etc...
If you're considering buying Richard's book, I would definitely get version 4.0. I started with the Hidden Power stuff on
PSE 3.0. Now I've bought his new book, which btw, is why I went out and bought
PSE 4.0. I must say his new book is a fantastic improvement over the last one. It seems to be better organized and with less typos.
As Richard stated in his reply, they do keep taking things out of Elements, which, for the life of me, I cannot understand. Then they add a couple of gimmicky tools for whatever reason.
One thing that has helped me since moving to
PSE 4.0 and reading Richard's new book is the use of Gradients. I had given up on them a while back but now have a renewed interest in learning more about them. In fact, after reading some of Richard's book I think I like them much better than curves, although I never really used curves that much, I do see more use in Gradients and how they can help with tone and color.