I am a novice, and started out uring LR simply because it was cheaper than full PS. At the time I thought it was a subset of PS filters geared towards raw processing (similar to elements). I soon found out differently, sadly there is not much integration between the two.
I like the interface of LR a lot better, IMHO it fits closer to the workflow. But some basic stuff is missing, so you still need PS
Right now I shoot in PEF, import in LR as a DNG. I do pre-selections in LR, make subsets and selections etc. I do own PS4 by now, but always call it from within LR using the 'Open as Smart Object in Photoshop' after doing the basic wb corrections etc in LR. If you do it that way, the result will be saved inside the collection you are working in next to the original raw file. It makes it much easier to keep track. The final export to jpg or printing is done from LR.
My ideal would be to be able to add my personal selection of PS modules/filters to the LR interface to get a unified workflow. But that is probably a long way off.