Found this tutorial ont he net regarding CS3 Adobe Raw Converter.
I found it immensely useful. What the new ACR can do is worth the cost and efforts to upgrade from CS2.
Hope you find it helpful too.
http://photoshopcafe.com/cs3/acr4.htmI am making this thread a sticky. If you find any other tips, information and anything good to know, please add to this thread.