Will Lightroom Beta be compatible with Photoshop CS2 and Photoshop Elements?
Yes. Images handled by Adobe Lightroom will be editable in Photoshop CS2 or Photoshop Elements. Some non-photography file formats usable in Photoshop and Photoshop Elements will not be supported by Lightroom, but this is in keeping with the mandate of Lightroom as a photographer’s application. Lightroom does provide a somewhat different approach to image adjustments than Photoshop, however, and this initial beta release is somewhat experimental. Thus, users should expect the integration between Photoshop and Lightroom to evolve over time.