Good to hear that it looks like the full version. I was going to buy Elements 5 last year but was "waiting for the big sale", which never came. Believe me, I have a lot of digital image apps on my box - too many, even though I've removed several. One of my addictions! I once had Photoshop Home Deluxe - or something like that - which came with an HP scanner a number of years ago. Nice at the time, but missing a lot of features. Yet when I downloaded a trial version of the full Photoshop I was completely flabbergasted. Way more complicated than it needed to be for the non-professional photographer, IMO. And the price was extremely high. It seemed like they had invented a language designed to make non-pro's go cross-eyed! I never did l purchase the expended version of Photoshop.
Now years later, Photoshop is still somewhat of an "elitist" application, or suite of applications. I don't mean that in a bad way, but in that it is voluminous and still more expensive than the average non-pro can afford, including me, and seemingly aimed at photogs who are much more serious about it than I. I have the knowledge to use a lot more of it now than then, but I would never pay the kind of price they ask. (At this point I would give up my first born, but no one would take him!!). I mostly use Paint Shop Pro X for photo editing and effects, and ACDSee Pro for photo organization. ACDSee is sweet but the company is pretty bad IMO. I won't go into that except to say that none of their subsequent versions added enough to be worth me purchasing, and any problems I have had with my current version must be accepted because their support model is really bad. At least IMO.
So I have wanted to try Elements to see how it handles photo organization. I have read about features that sound super, and some that don't sound near as good as ACDSee's. Version 5.0 is the one that most reviews seemed to label as being awesome and worthy of upgrades. Guess I'll get to find out firsthand now.