It is true, Photoshop Elements now does all that you are likely to need to do. The big brother version is for professional graphics artists.Photoshop Elements (that's the cheapo version of Photoshop) - A friend of mine has it. He says that all you need to know is available on YouTube (plenty how-to videos). What he can do with it beggars belief - and he's just an amateur enthusiast.
I bought a copy for £25 but haven't used it in anger yet - just noodled.