I just downloaded the most recent Beta version this week (I usually avoid Betas for fear of bugs crashing my system), and I like a lot of what I've learned to do so far. I've started shooting raw files more, and have used free raw convertors and then bought PShop Elements 4 so I could use the Adobe raw convertor (I have not upgraded from PShop 7 to CS1 or 2) -- this left me converting from raw in one program and then opening up the new .tif file in PShop (I could have stayed in
PSE, but it doesn't have everything I need AND I'd have to learn how to do things in
PSE that I already know how to do in PShop7). Lightroom lets me make the file conversion, and do most of the basic photo edits needed all in one program, and gives me nice presentation options also.
I don't think I'm going to want to put all of my old images in Lightroom (I'm putting some in so I can practice different options), but it certainly works well at handling newly shot images -- from the camera download thru conversion to editing to presentation to printing.