For anyone using a Nikon camera this software is a really useful adjunct. It is built to handle the Nikon NEF file format but will also work on any jpg file, so people with other makes of camera can use it too. Editing is fast, completely non-destructive and in most cases much easier to accomplish than with, say, Photoshop. I also own Photoshop Elements 7 but rarely use it for run-of-the-mill editing, since Capture NX 2 is so much easier and quicker. Where Photoshop scores is when you need to 'transplant' a portion of one shot into another -- there is no way of doing this in NX 2, but all other edits -- curves, level, altering of saturation, colour correction, sharpening, etc. can be done (and often much more easily) in NX 2.
The really big feature of NX 2 is its U-point technology, enabling you to make enhancements to hue, saturation and brightness to local areas in the photo without having to spend a lot of time making complicated selections (with polygonal lasso etc.) as you would have to do in Photoshop to achieve the same end. For instance, if you have a shadowed face in your photo that you would like to brighten (giving a 'fill-in flash' effect) this is extremely quick and easy to do in NX2 -- simply add a 'Colour Control Point' to the face and you can control the brightness, saturation and hue with that whilst not affecting any other area of the shot. Colour Control Points can be used in a similar way to make skies bluer, leaves greener, etc. etc. -- all without having to make any manual 'selections' as you would have to in Photoshop.
Try it and it will soon become your number one photo editing program!