Design Suite - Upgrade just PS to CS4?

Hi
This probably was posted before (but this Jive software's search sucks so bad I haven't bothered to look), anyway can I simply buy a Photoshop Extended CS4 upgrade and apply it to the Photoshop installed as part of my Design Suite CS3? Purely a technical question - will  PS CS4 install and will PS CS3 still be there and functional?
I need to start getting up to speed with PS CS4 and there's really no production related need to go the whole 600.00 Suite upgrade route - yet. It looks like the rest of the apps won't benefit from 64-bit code till CS5 (fall 2010) and the PS CS4 upgrade won't go to waste since we have multiple licenses to update in the future. And yes, I know about all that legal, activation stuff associated with that last statement. Thank you for your time.

Thanks Bob, I'll look into that. I'm sorta being a bit pissy because PS is the application used in production around here - I was able to get the design suite because of marketing dept support (DW, ID etc.); there's no way the marketing guy needs to spend the money to get what they need already w/CS3 (they don’t really care how it gets done). And I use those tools so little that I really can't justify a suite upgrade - except to maintain continuity.
It's all about $$$ in a deep recession in an extremely competitive environment. Those are not assumptions. Right now I can justify doing all eight of our PS licenses to PS CS4 upgrades based on a feature set and 64-bit robustness. However, even that is troublesome because half of those CS3 machines are running XP-64 - wait - not supported by CS4! I'll let you talk to our IT manager about Vista or Win 7 .
So yeah, it's tough figuring out which way to go on this, and don't even get me started on my personal set up - what do I do with my Master Collection? There, I need to get going on PS CS4 to keep my ‘real job’ skills up to snuff, but shelling a grand out for ‘just’ that without the PP and AE (I’m just now messing w/video and AE never installed properly) soon-to-be CS5 64-bit updates you mentioned would be just stupid. I’m probably not the only Suite user who’s in this boat, trying to keep our business’ afloat while navigating not just Adobe’s “must have” upgrades, but MS’s multi-OS confusion as well.
This all fits well into The Paradox of Choice, and Adobe, MS, even Google are feeling the effect. It's why PS 7 is still so popular...

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