I am one of those people who upgrades my software as soon as a new version is available (if I need it or not), and I assume everone else does as well.
But I know that the truth is quite different.
So if you are not using Photoshop CS5 yet I want to give you some resources that will help you determine if upgrading is for you and if it is, options that will make it less painful to your wallet.
Resource #1: Terry White. There are a bunch of reasons to visit Terry's blog (like his must have iPad apps for photographers, 3 ways to show your work to clients, and taking advantage of Virtual Copies in Lightroom 3 to name just a few) but the first thing I want you to see there is his walk through of the new features in Photoshop CS5.
The video is over 45 minutes long and in it Terry gives us a detailed demonstration of the new and cool features of CS5. I like the fact that you can download the video to your computer (or mobile device) for future viewing at a time most convenient to you (or when you don't have internet access).
Resource #2: You don't think I could talk about Photoshop and NOT mention the Photoshop Guys, do you? Scott Kelby, Matt Kloskowski, Dave Cross, and the rest of the crew put together a series of video tutorials over at the NAPP CS5 Learning Center demonstrating content aware fill, HDR Pro, improved noise removal, lens correction, and more. Not only will you find some great videos here, you'll also find links to other Photoshop CS5 resources available on the web, including their (NAPP's) 5 day CS5 launch webinar that has about 8 hours of tutorial/instructional CS5 videos.
Resource #3: Okay, so you visited all the links above and realize that life is just not worth living without Adobe Photoshop CS5, but you really don't want to sell one (or more) of your children in order to get it. The full version of CS5 is around $650 - $750 but if you have a student or teacher in your household you can purchase the full version of Photoshop CS5 Extended for just $198 at Journey ED.. You will need to provide proof of eligibility to Journey ED when you order the product and then again to Adobe when it arrives, so there are two small hoops to jump through but the savings are well worth it.
If you own a previous version of Photoshop (you can only go as far back a CS2), you can upgrade to CS5 for $190.
Don't have a previous version of Photoshop (or have a version earlier than CS2)? You can buy used version on eBay in the $100 - $150 range. You just need to make sure you are buying from a reputable seller, the two things I look for in a seller is a high positive feedback (97% or higher) and one that has a return policy (which tells me they back their sales). Buying from a seller with a return policy will work in your favor if you ever need to involve Paypal.