Sorry for the belated arrival.
a) How badly do you need highly versatile text features? Prior to 5, once you deselected the text, it was no more than a group of pixels interspersed with the rest of the pixels on that layer. You could, of course, create a separate layer for every text string, which would at least let you reselect it and do things to it (including delete and start over) but you sure as hell weren’t going to select it and change the font or point size or make it italic or anything. In 5, you can do those things.
b) However, 5 comes at a very steep price. The “history” feature is wonderful, powerful, and causes you to need a 60 GB hard drive and 1 GB of RAM to avoid hitting the walls and sometimes even losing hours of work from running out of scratch space at a really bad time.
c) If you don’t need 5, you don’t need 4. Dig around and get yourself a copy of Photoshop 3.0 which is what a laptop should be running.
Narrative:
I carry around 3 on my G3 “WallStreet” laptop with 192 RAM and 18 GB HD. (I also have the KPT and Eye Candy plug-ins, both of which I commend to you). I would not think of inflicting Photoshop 5 on my brave little laptop. It would of course launch (it would launch on less than 1/4 that much computer) and if I never ran anything else concurrently and didn’t really use it for anything but Photoshopping, it would make a passable 5.0 box (I do, after all, have the ixmicro Road Rocket PC card for second monitor support
), but just barely, and that isn’t how I use it. With 3, I can run a dozen concurrent apps and nonchalantly launch Photoshop without quitting the others, open a half dozen windows and copy and apply filters and resize and futz around and finally save the document, all of which assumes that I’m dealing with no more than a couple million pixels’ worth of image; or I can quit everything else, launch Photoshop, hook the scanner to the SCSI port, set it for 1200 dpi, and start work on a project that could encompass a hundred million pixels, or two, or four and a half, with temporary windows of a few million apiece to develop individual component pieces before copying them (via Photoshop’s native clipboard of course) to the main document. With 5.0, I’d find myself often having to quit everything else just to have the functionality that under 3.0 I get while running 4-5 other apps and a massive dose of extensions and control panels. (Yeah, Macintosh. Under Windows you don’t need to worry about Extension sets but otherwise your mileage won’t vary much even if the symptoms of hitting the wall tend to be different).
Photoshop 5 just isn’t a laptop computer kind of app. Hell, it eats midrange desktop computers for midday snacks and sometimes even brings dual G4 processors with a gig and a half of RAM and RAID level 0 half-a-terabyte enclosures to their knees for a moment.