The Bottom Line: Since Lightroom 3 supports a variety of formats like RAW, JPEG & Fine, I would recommend this to professional and wild life photographers.

It was the first time when Adobe released the beta version of Photoshop Lightroom in 2008.I have been using Adobe Photoshop Lightroom since version 2.
Adobe Photoshop Lightroom is great photo editing software where you can digitally develop your RAW photos rather than editing them. It also has great features like Exposure level, Post-crop vignetting and also the Red-eye removal tool.
In the new Adobe Photoshop Lightroom 3, it offers a wide support for formats like RAW, DNS, PSD and TIFF. Importing and organizing has been made very easy. Importing process and GUI is
much improved in the new version of Lightroom. Exporting pictures can be done as single or as a group process and can be accessed quickly by giving a specific folder name. Adobe
Photoshop Lightroom 3 also provides access to Photoshop and its plugins as well.
Users can download Lightroom presets to enhance their photos. Lightroom 3 has professional and elegant slideshows which are based on HTML/Flash. Unlike the other image editing softwares, one does not need to be very technical to use Lightroom.
Lens correction, DSLR support for videos, Improved import process, Support for CMYK color formats. Performance is much faster than the previous version and one of the most phenomenal feature is Noise Reduction and Film grain simulation.
Conclusion : Very user friendly, processing is much faster.