MicrostockGroup

For over 10 years, I have used Microstoft's image editing software.  Originally it was called PictureIt, but the last version that they've made is called Microsoft Digital Image Suite 2006.  They will not be making any new versions so I know that I will eventually have to make the switch, most likely being to Adobe.
 
So, I'm trying to figure out what Adobe program I need.

I do not care about cataloging my pictures.  I already organize them the way I like and I don't need a program to change my system of doing this. 
I do not need a program to keyword my photos.  I already have a program for that.
I do not need a program that I can do "batches" with.  Each picture I edit gets individual attention.

What I DO want is a program that can:
Adjust contrast/brightness
Adjust color (temperature, saturation, etc)
Sharpen/blur
Dodge/burn
Paintbrush/airbrush
Rotate/crop/straighten/flip
Erase elements from the picture (my program lets me just outline something and it makes it disappear)
Clone tool to fix areas of my picture
Blending tool (like the clone tool, but has softer effects)
Make layers and blend them together using a transparency effect
Remove scratches, dust, or red eye
Convert to b&w
Apply various filter effects like diffuse glow, watercolor, canvas, etc.
Cut out parts, copy, skew, distort, etc.

Aside from doing stock, I also like to do some photomanipulation.  For instance, a favorite past time of mine is taking pictures of people at work and blending their faces onto animals.  I'm not a huge photo manipulator, but I like to be able to do it now and then.

SOOOOOO.....which program would best fit my needs?  I don't want to spend $700 on CS4, only to find out that Elements 7 would've worked just fine for me.

Why not just stick with what is working?  Do you really need to upgrade?

Thanks.  I will look into that one.  Is that what you use?  If not, which program do you use for your image editing? 

As we speak, I am downloading the trial version of PSE7.  I will give it a try and see how it does.  This is a dreaded step for me because I actually loathe Adobe.  But Microsoft let me down by not keeping up with their program.  Their site says they're now incorporating their image editing software with Vista.  I do not want Vista and can't imagine that their software is going to be good enough if they're including it in the operating system.

I would use a LR2 CS4 combo if budget permits, then a LR2 PSE, them PSE by itself using Bridge to convert.

Thanks for the link.  I d/l PSE7 last night (30-day version) and tried it out a little before heading for bed.  I also got a disc from a magazine that has video tutorials for some editing to give me an idea of how to use the program.  Boy, their program sure isn't as user friendly as the one I'm used to. 

LR2 can do cloning. Try out LR2 and you will be amazed. LR is about speed and making adjustments in RAW. As a photogrpaher it will be the most used program. After I bought lightroom I never used irfanview for microstock again. However I could not do without PSE. I almost never miss not having CS4, since I mostly only need to do basic stuff of which PSE is more than sufficient.

Elements doesn't have the extra cost   I used to have Photoshop 5.5 and I haven't found anything that can't be done with elements 7 and a few plugins.  I am sure photoshop experts find elements restrictive but it meets my requirements.

Opinions and workflows may vary. If you have little money, use PS and Irfanview. I don't like to be dependent on the proprietary implementation of IPTC from Adobe. Just as I don't like PDF and Flash and Mov. Open Standards are all you need, apart from love of course ;-)