Premiere Elements 10 is well worth it. It's what I use for video editing. I own the full blown Premiere as well, but never use it. I haven't found anything that I need to do that I can't do in Elements. Maybe a professional would look at it differently, but I'm not a professional.
Photoshop Elements, on the other hand, I wouldn't waste my money on. But, then again, I use Photoshop in my job, so I do things with it that Elements won't do...
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