Should I deinstall PS8 before installing PhotoShop SC5 Extended?

I just received PhotoShop CS5 Extended from Adobe, but before I install it on my iMac I have decided to ask the following questions, just in case:
a. Is there any problem you can think of by having PS8 and also PhotoShop CS5 installed on the same computer, or should I just remove PS8 first?
b. Is anybody else still having PhotoShop Installer problems as I have been reading in this forum lately?
My plan is to repair my iMac's permissions, restart the computer, install PhotoShop, and then repair permissions one more time before using PhotoShop.
My 21" iMac is as follows:
Mac OS 10.6.3
3.33 MHz Intel Core 2 Duo
8GB 1067 MHz RAM

UPDATE:
I went ahead and installed PhotoShop CS5, and it seems to be working fine. Before installing. I repaired permissions using UnyX, and then restarted my iMac. Next I installed CS5, and checked the computer's permissions (these were OK). I left PS8 alone, and both are working without problems.
I did notice that noise reduction isn't any better than PS8, so I updated Neat Image V.4 to version 6 to use within the Filters folder of CS5.
Thank you for answering my questions.
Ray

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