How to go about making the big leap from Photoshop 7.0 (pre-CS version) to CS4 or CS5?

I had bought an iMac way back in 2002 and had pre-installed Photoshop 7.0 on the machine. At the time, I wasn't much into photography, but am becoming now. I'm not a pro mind you ... I just like to retouch holiday and family pictures, as well as the local occasional exhibits or events as a hobby.
I'm working fine with version 7.0, but feel that I'm lacking a lot of advantages which are currently present on CS4 & 5, let alone 3, 2, and 1 already. So, I'm now exploring the move to CS5 or 4 but am lacking knowledge on how best to do this. Besides, I've learned that there is now Basic & Elements versions too. I'm all so confused. Can anyone please guide me on the right move?

First of all, Photoshop 7.x is out of the upgrade loop altogether, so you'll be paying full price for whatever you buy. Incidentally, make sure you have applied the 7.0.1 update. Nobody should be running 7.0 at all.
Secondly, you need to specify on what machine you'll be running the new version.
Then tell us whether you shoot RAW images or JPEGs, which in my judgment defines whether you absolutely need CS5.
It may also be that Photoshop Elements may be enough for your needs (note that there is a dedicated Photoshop Elements forum, Elements is not Photoshop). More info is needed from you.
Wo Tai Lao Le
我太老了

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How to go about making the big leap from Photoshop 7.0 (pre-CS version) to CS4 or CS5?

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