There is also an easter egg in Photoshop CS3 (just like in any other Photoshop version):

1) Hold down CTRL key.
2) Use mouse to click “Help” > “About Photoshop…”
3) Now release CTRL.

You will see another (hidden) “About” window, which is ugly, but there is written CS3 codename: “Adobe Red Pill”, and “Not for distribution. BETA”.

So if I have PS CS2, and I download this will it upgrade my current version or will it be a separate install?

Of course, it will be separate install. I just installed it, and now I have choice – CS2 or CS3. You can’t run both versions at the same time, but you still can select CS3 or CS2. By the way, .PSD files now opens in CS3 by default.

I’M SO HAPPY NOW!!!!

CS3 is much much faster!!!
It’s about TWICE faster than CS2!!!
And its GUI is as cool, as Adobe Reader 8.0!!!

So if I have PS CS2, and I download this will it upgrade my current version or will it be a separate install?

I haven’t tried it myself but I would venture to guess that it would install it separately. People who find bugs may need to go back to a stable release so Adobe wouldn’t want to erase it.

There are many companies that do pay that much for the program because it is so powerful, which makes the cost a little unreasonable for us normal people that want to use if for a few things here and there.