There was a lot of news about Adobe in the past couple weeks.
First they released the first beta of their new free Photoshop Express tool, an online editing, displaying web site. Definitely some nice tools for quick editing, but the problem I would have with it, is that I would have to upload a jpeg and edit it further - re-saving it yet again loosing quality. I guess it'll be an OK tool for casual photographers.
The news that exited me the most though, is the availability of the Lightroom 2 beta. It has a lot of exciting features. One being Dodge and Burn support but there are so many other you can read about on their Labs website.
I nice perk is that they also released a native 64bit version for Vista.
It is a shame it will not let me upgrade my existing catalog but hopefully a later beta will.