which raw are you dealing with. I have used it before and will say that it is ok, but not worth the 299 bucks unless you are going to be producing a one to one ratio. OR are a 100% looker. it is just not worth it. The program that comes with canon produces the same results and it is free. The nikon program is not really that great but since most people do not want to look at the pictures 1 to 1 it really does not matter.
I would say that even the converter that comes with elements 4 is really not that bad.
Now if you need to produce 1 to 1 or need to preserve the original picture as is then it is worth it. but for the most part you are not going to get the results you want. If you are going to throw out 299 get CS2.