Thanks everyone for your advice.
All in all, I think I'll wait for the Intel version of Photoshop Elements comes out, though the GIMP works pretty nicely for the moment.
One good turn deserves another, so here's a tip - I was poking around looking for a good Mac text editor, preferably free, to replace my beloved EditPad Pro (has both Windows and Linux versions) when I stumbled across Smultron -
http://smultron.sourceforge.net/
Smultron is free (donations appreciated), fast and extremely versatile..
"....tabs, line numbers, support for syntax colouring for many different languages, functions list, support for text encodings, snippets, a toolbar, a status bar, preview, split window, multi-document find and replace with regular expressions, possibility to show invisible characters, authenticated open and saves, command-line utility, full screen editing and running commands and scripts from within the application."
Very very nice app indeed.
Cheers
Mac