I have PS7 and tried out PS CS. The only good change I could find was the ability to warp text along a curve. Other than that, there was no other "new stuff" I could use. Frankly I think PS has been taken as far as it should go. What more could you ask for?
I have PS CS. I don't see any "major" updates that you would need. Stick to PS7 and save money.
But don't get me wrong, I love PS CS.
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I have PS7... I saw on ther web page that CS can make one picture out of multiples pictures taken side by side... make a large photo out of many pictures... like a x-large wide angle... I wonder if PS7 does that ?
I wouldnt buy CS, Ive used Photoshop since v4, and loved new changes, but I dont think theres enough for the money, and it is still buggy. Stick with v7!...lol