Photoshop Lightroom 4

Pros: Develop module is better organized, Added brushing tools, New video management tools, New Map module includes reverse geotagging, Book module with Blurb integration and PDF output, Email capability for sending photos from the app, Lower price compared to previous versions, New DNG conversion options, New soft proofing capability

Cons: Can't stitch video snippets together, No Mac Address Book integration for email