Since the Q only shoots in the .DNG format for raw, which is
Adobe's open standard, there is no need to look for an update for CS5 to read the files. There may be some information that will be better interpreted by later DNG readers, but the images are always readable by Adobe software from the past few years. Pentax is way ahead of the market (which is generally lagging behind in raw formats) on this one. I think the K-5II series will be the last Pentax digitals to use .PEF, but I have no quote to back this up...
Oh yeah, I use Photoshop CS6 (or more correctly, Adobe Camera Raw 7).