Open Question: Is Photoshop CS3 a waste of money?

I have Adobe CS2 at home, and I'm pretty good with photoshop. I need something to edit images with at work because I am doing a small amount of web design. I have always been happy with Photoshop resizing things for the web and in general making things look good. I think they will buy me photoshop if I ask for it, but is there another program that will serve my purpose? The graphics have to look professional, but I do not need the full range of stuff photoshop can do. Any advice?

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