iPhoto vs Photoshop Elements for storage and organization

I'm a new Mac user. I've been using PS Elements for a couple years and like how I can create collections and tag each photo by dragging the icon to each photo. I've been told iPhoto is good for storage and organization. I've used it a little bit, but it seems more labor intense to type in/copy and paste key words into each photo. I'd like to find out the experience/expertise of other users. Thanks!

A vote for PS Elements, tidy folders burned to a CD.
CD envelope marked with date and contents.

Thank you Outlaw. I started reading Scott Kelby's book on PS Elements 6, along with the chapter on his web site for Mac, and found that the Mac version does not have the organizer and doesn't automatically save the original when you edit like the Windows version. Big disappointment. After reading that book along with another one on iPhoto, I too vote for PS Elements because it gives me more info and flexibility. Although I do like how iPhoto sets up albums and keeps it all together instead of just being a browser.

I will do your recommendation of storing all of the photos to a CD. Do you also keep the originals on your HD or EHD, or do you just work from the CDs and store the edited versions on your HD/EHD/CD?

Thanks again!