OK, for the full skinny, read the linked article - but here's my nut-shell style summary:

Word is that Adobe are working on two new products - Adobe Acrobat 3d, and Adobe Full Frame. There will be two versions of Photoshop CS3 - a standard, and a premium, with some of the more advanced features only being in the premium edition. Personally, if this will bring the price of the standard edition down, I'm all for it. CS3 may also get a major interface update, and some major improvements to the nondestructive image editing. Oh, and better RAW performance is always good.

Acrobat 3d is pretty much an unknown, but it sounds like Acrobat for CAD type stuff. Full frame is, if possible, even more of a mystery, with the article linked above knowing nothing at all about it - apart from the fact that someone has mocked up a box with those words on the cover.

There's also (down the bottom, keep scrolling) hints that Apple may be coming out with a PowerPhoto* - iPhoto on steroids. Features may be stuff like improved automation digital imaging workflow, one click importing, and a few other such Apple-esque features. Sounds like it's targetted at your low end pros, or your high end amateurs... much like this site really. We'll be watching for that one.

* That's me guessing at a name. Don't take it seriously, I don't know anything more than you do. But wouldn't it make a certain amount of sense? I mean, their low end stuff is all iWhatever - iBook, iDVD, iPhoto, iMac. So they come out with a higher end tethered digital video camera - call it the PowerSight. Likewise, PowerDVD, PowerPhoto. Note that these would go very well with the existing PowerBooks, and PowerMacs. Of course, they won't do it - that would be too easy for the consumer to understand. Still, nice idea, innit?