What I read based on a Mac Rumor site is that Photoshop CS3 will support hardware acceleration via the respective OS's hardware acceleration layer ( DirectX for Windows, and Core Image for Mac OS X) for general image handling.

It MAY also take advantage of a video card's GPU for filters, but even if it doesn't, hopefully they will use DirectX, Core/Quartz/whatever for the base, so that filter writers can do interesting things with the appropiate hardware.

Logically, I expect these features to be included for Photoshop CS3: -ICC version 4 support
-Native Mac OS X 10.5 Leopard Support in the Universal format -Native Vista support (Adobe would be foolish to ignore Vista, however WCS (Windows Color System) is a Windows only feature, so Adobe might be hesitant to implement support for WCS since that may lead to vendor lock in) XPF might trouble Adobe as well since it competes with PDF.
-More adjustment layers, possibly shadows and highlights if they can find a faster way to implement it.
-some of the nicer features of Adobe Photoshop Lightroom will show up in CS3, like a more dynamic histogram, and friendlier curves.
-native 64 bit support so that you can now work with huge gigabyte files. -maybe improved scratch disk handling
-Windows Vista will support high bit displays (10 bit or more) and HDR displays natively in the OS (The OS can handle up to 128 bits of graphic data and communicate that to the hardware). Photoshop CS3 might support that with a patch or it will be on the list for CS4. I doubt CS3 will support that at release.
-better customization of tools, menus, improved menu handling and palettes -better tools for web graphics designers (maybe ImageReady will be dropped because PS CS3 will be totally configurable for the modules you need.)
-Now that colorimeters are affordable, and LCD screens are ubiquitous, they may include a new calibration program to replace Adobe Gamma.
-Better HDR tonemapping; 48 bit per channel support
-improved automation tools including support for more programming/scripting languages. -better UI and handling of Smart Objects
-improved noise reduction and image sharpening
-Camera Raw 4.0 may be a lite version of Adobe Photoshop Lightroom

What I really look forward to is that CS3 takes advantage of 64 bit, and the new features of the respective OSes, Windows Vista and Mac OS X Leopard.

MDB

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CS3 ??? a new version-any speculation?