I use Photoshop quite often, good program, no matter which version you use.

I'd go with an older version. It's cheaper, the bugs are already worked out, and there is a ton of support to go along with it. Plus, unless you're intending on using it for professional reasons, the older versions will have everything you could possibly need. I use mine for recreational purposes, so obviously I never needed the latest and greatest version of Adobe Photoshop. I've been using Photoshop 7, just for reference.

Truthfully, it all depends on what you ultimately want it for. Student version is crap, straight up, and simply not worth it.