> *"Remember that Photoshop might be the industry standard in the US, but in Europe CorelDraw is also an industry standard."*

And if I was working primarily in the UK I would probably wind up using that for those reasons. This is not about blindly following the "industry standard" and using a inferior tool - in this case the tool (Photoshop) is absolutely top notch... so the downside of using a tool that is not standard is not compensated for by any dramatic increase in ability or productivity.

"If you mean layer blending modes, you'd have to tell me if this is all of them."

There is a whole lot more behind the "blending" options than those. They are probably not things you will use in your work, or maybe they aren't used often.... but when you are discussing a tool that will be a major portion of your workflow I tend to choose the one that provides me the most options.

"Color correction and suite capability are the two benefits that Photoshop has over PSP."

If you are including color space management in with color correction I agree. I would also add the new "layer comps" ability as an awesome advantage.

In the end it can be summed up like this. You won't spend nearly as much on PSP and you might never need anything more than it is. But if the question is about "more powerful" then there really is no competition between the two.