If you like the feel of Elements 2, I can report that Elements 3 is basically the same and works on everything from 10.4 Tiger to 10.6.8 Snow Leopard. It uses Rosetta so won't work on 10.7 Lion.

Elements 3 has a few handy improvements over version 2, no drawbacks that I have found, and no authentication scheme. Highly recommended if you don't like the newer versions for some reason.