LR4 for the New Guy?

I just arrived, essentially, on the DSLR/ RAW files scene. I have been exclusively jpgs for years. Now that I have a Canon 7D I shoot in RAW and Jpeg (for now). For handling the .CR2 images I have Canon DPP and a very old version of Elements for jpegs.

I feel the DPP is limiting and that I need to buy newer/ better software. After reading far too many threads I'm wondering if LR4 would be a good package to get?

I'd love for it to be a one-stop solution of course, but what would you advise? Just to be clear, $1000 software is not in my future but I could swing 4~500 if needed.

My purpose is hobby-enthusiast level shooting; bifs, sports, wildflife. Not so much portraits though family pics are in the mix as well.
--
R. Slaughter
'DEMOCRACY' is two wolves and a lamb voting on lunch.
'LIBERTY' is a well-armed lamb denying enforcement of the vote.

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