UPDATE:
JASC, the makers of Paint Shop Pro have been bought-out by Corel. Their current version (Dec 2007) of Paint Shop Pro is a $90.00 dollar purchase. It has been renamed Corel Paint Shop Pro Photo X2. This update note is here to make clear that I don't recommend any version of Paint Shop Pro except version 3.x
The PSP versions after 3.x were junk -- Too overloaded with "extras" that did little and made the whole interface confusing and unusable. Apparently they thought they didn't have to listen and respond to their customers' complaints. I tried their subsequent versions: ver4, ver5, and ver6. Then in their version 6 or version 7 they blasted out (finally) with big advertising, proclaiming that they had listened to their customers' complaints. They then claimed that they had eliminated all of the screen cluttering garbage, and had simplified the user interface. By then, I had already been burned (or burned-out) by the hair-pulling, mumbling and cursing that went along with trying to make sense of versions 4, 5 and 6. The tone of their blurb was desperation. Sales must have dropped off tremendously. This time I wasn't biting though. As the saying goes, "Fool me once, shame on you. Fool me twice, shame on me!"
I deleted all their versions from my computer except my original version 3.x. I have been using that ever since. I'm not surprised to see that they had to sell their company.