Since I discovered PhotoLine (
PhotoLine: Image Processing ) I use it for all my editing. 16 bit colors, CMYK and Lab support, colour management, tons of adjustment layers for non-destructive editing, recordable actions, PDF import/export, PSD import/export (and it even imports photoshop adjustment layers correctly most of the time).
All this for like 1/10-th the price of Photoshop. And did I mention it has fast startup (like lightning fast compared to Photoshop).
OK, I'll stop now - before this will sound like some advertisement