Is the academic version of Adobe Photoshop the same as the regular version?

I'm a college student and I really want Adobe Photoshop. I'd much rather pay $300 for the academic version than pay $1000. But is the academic version the same as the regular version?

I just browsed the Adobe forums to see what information was being given there, since CS3 has just come out. It appears that the policy I remember (I upgraded from the academic versions of Photoshop 3 and After Effects 3.1, so it's been a while) is still in effect.
Basically, a qualifying student can either purchase a new academic product, or purchase the commercial upgrade. There are no academic "upgrades", per se.
It may actually be cheaper for a student to re-purchase the full academic copy than to purchase the commercial upgrade. Someone who no longer qualifies as a student needs to purchase the commercial upgrade, of course.

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