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The newer the version of the software, the better (in terms of its features and its user-friendly interface). I'm using CS2 and it's great so far.
Whether you would finish a layout fast or slow actually depends on your idea on a particular project. Making it more 'artistic' or futuristic ( color blends, image/graphic effect) will take longer period of time to finish it. That's why designers would ask what is your budget, so that they can gauge the work and time needed for your project.
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