How much difference between Premier Elements and PS VII?

How much difference is there between Premiere Elenebts and Photoshop Elements VII?  Considereing upgrading, but need to know how much time I will have to spend in training? 

It’s certainly worth considering the bundle PSE10 & PRE10 which is very favorably priced. The two applications seamlessly integrate. There are some interesting new video features - even for bringing your stills to life.
New color correction tools make it possible to enhance video clips, just like photos.
It’s also possible to burn HD quality movies to both Blu-ray disc and onto standard DVD’s. PRE10 is Adobe’s first consumer package with 64 bit support for enhanced performance (Windows 7 only)
Mac users were first introduced to PRE9 and can now use SmartSound® to add a variety of royalty free music soundtracks that automatically adjust to perfectly match the length of their movies.
To see the new features and system requirements click here for PDF
You Tube click here for video

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