Adobe has announced they will be holding an event to announce the release of the much anticipated Creative Suite 3 on March 27^th, though the actual release won’t be till late spring. During this event, Adobe will reveal the features and suite configurations that will make what Adobe is calling the largest software release in their 25 year history.
 

Although Adobe has not released the list of features for each program, they did release a beta version for Photoshop and the word on the street is that it has some pretty fancy new features, one of them being the Smart Filters. This feature allows you to apply filters and turn them on/off, etc. without hurting the integrity of the graphic. Very nice.  
Here’s a short list of some additional features that could be seen on the new release:
Quick Selection Tool
The new Quick Selection Tool creates selections by painting the general area of interest. Photoshop CS3 analyzes the image to complete the selection automatically.
Refine Edge
The new Refine Edge feature offers a simple, flexible way to modify the edge of any selection. Available via the Options bar or via the Select menu, the Refine Edge dialog lets you smooth, feather, contract or expand the current selection by using simple slider controls.  Experiment with the Radius slider to select irregular or fuzzy edges.
Automatic layer alignment and blending
Using automatic layer alignment and blending, easily combine the best parts of multiple images of the same scene into one “best” image. Simply place multiple, related images on separate layers in one document, and let Photoshop CS3 analyze the contents, moving and rotating the layers so they overlap as precisely as possible.
Black and White conversion
Advanced black-and-white conversion is now simpler and faster. With the new Black and White adjustment, one button analyzes the image and offers conversion settings.
For all you nerds out there that can’t wait till the full list of features are available on Adobe’s website, Adobe will be webcasting this event live from New York City on March 27, 2007 at 3:30 p.m. EDT at http://www.adobe.com/go/cs3launch. Enjoy!