Well, guess I'll be using PPL or RawTherapee then.
There was only one update to 12.01 which I already had installed.
As I said I got PSP from my university, which right now is only offering X2.
However I hope that they'll upgrade to the new X3 eventually.
Ironically I tried PSP because I had trouble getting my Wacom tablet to work with the Gimp in Win 7 64bit.
After a bit tinkering, the tablet is now working great in the Gimp but not in PSP (can't get the eraser to work).
Still, the software offers some nice tools so I guess it'll stay on my HDD for now.