Photoshop is an amazing program. I have been using it for many years and so far the only limit, as far as I am concerned, to the program is your imagination. I just finished a graphic project which contained 127 Layers. There really is no limit to the amount of layers you can use. You will need a decent computer to take full advantage of the program.
No Photoshop CS5 and Photoshop Elements are separate programs.
Select layer You want to transform (click on it at LAYERS palette) then press Ctrl + T.
CS5
yes.
Photoshop CS5
Photoshop CS5
Yes, you can upgrade from Photoshop CS3 (or earlier) to Photoshop CS5 Extended, no problem.
cs5 is better
Adobe Photoshop CS5
In Extended version you have 3D Tools to work with 3D Objects.
Adobe photoshop CS5 (extended)
Adobe Photoshop CS5