Both are great programs. I have Paint Shop Pro XI and CS3 suit. I also use Picasa (free by Google) Each program has different attributes and draw backs but Elements and Paint Shop Pro programs Are more involved for PP work and cover the entire spectrum. Elements and PSPXI are two very good programs. They are easy to understand and use from the start. It all boils down to which one you like the most and find easiest to use. I know PSPXI has a trial version good for 30 days. I don't know if elements does any more but you could try downloading the trial and see how you like PSPXI.
It is entirely up to you which you like and understand the best. Good luck.