I am doing a lot of work with the New Capture 1 9, and it can do a lot of what I previously used photoshop for. It isn't a photoshop replacement, but the local adjustment layers are pretty powerful, and I have been testing printing straight from C1 for the past few weeks.
I've said this over and over, but there is nothing wrong with the software as a service model Adobe is on. It makes it affordable for people to use the software (legally), and it allows Adobe to push to updates more frequently. For about the cost of the full perpetual licensed version you can have 2 1/2-5 years of use on the subscription model.
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