Even with a 40D, we've been abandoned by Adobe when it comes to RAW support.
I've got CS2, and can't use it for 40D files if I want to directly convert the RAWs with Adobe Camera RAW. To do that, I'd have to buy CS3.
But there are many alternatives, and most of them are better anyhow.
First, in my opinion, it's always best to use a card reader to read cards into your computer. Using the camera body as a card reader is kind of a kludge that causes all kinds of problems for people. It kind of works, but not well, and you have problems with different programs and operating systems.
A $12 card reader will solve all of those problems and be faster, too. So first, get a good USB 2.0 card reader and then you can copy your files to your computer using Windows Explorer or any program that can manipulate files. That makes that part easy.
But then, even with your RAW files on your computer, you can't directly convert them using CS or CS2 because Adobe wants you to upgrade before they'll let you use the latest versions of Adobe Camera RAW, and you need that to get support for newer cameras.
But in my opinion, ACR is not nearly as good as Canon's free RAW converter DPP (Digital Photo Professional). So I have had zero motivation to pay Adobe for an upgrade because I almost never used their RAW converter anyhow. So while it was mildly annoying, it was no real loss for me when I got my 40D and found I could not use ACR for it.
My usual workflow is to do the RAW conversions in DPP (free and excellent) and then do the "Photoshop stuff" in CS2. Not a problem. That was my workflow all along.
If you use ACR to convert your RAWs, it's really a separate program from Photoshop anyhow, requiring you to use the very messy "Bridge". It's absolutely no faster or more convenient than having DPP and CS2 open and doing things that way. In fact, there's a command in DPP called "Transfer to Photoshop" that opens the file in Photoshop, transferring it in full 16 bit resolution.
The workaround that Adobe has is that you can convert your Canon RAWs into DNG format and then open those DNGs in ACR. But to me, that's a lot of extra work with zero benefit to me.
Finally, if you really want to use the latest version of ACR, you could just buy a copy of the latest version of Photoshop Elements and do the RAW conversion there.
But really, doing the RAW work with DPP and the Photoshop work with your older version of Photoshop is a really decent way to do things. I've been doing that for a long time because I've always preferred DPP's RAW conversions over what ACR gave me.
It just seems to be a lot less work to get the colors the way I like them. And now, DPP has lens corrections built in for many of the Canon lenses, so that's really nice.
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Jim H.