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it all depend on how much you want to spend and what you going to do. if you on a budget then elements and lightroom is the way to go, but if money isn't a factor then PS CS is the way to go. elements can handle most ps editing task. lightroom can do a lot more advance editing and batch task than what elements can do, then their PS CS which basic can do anything as long as you take the time to learn how to use it correctly.
as for me i would use adobe photoshop extended cs5 with adobe bridge and camera raw plugin for editing and managing photo's.
as for me i would use adobe photoshop extended cs5 with adobe bridge and camera raw plugin for editing and managing photo's.