Photoshop CS isn't compatible with the latest version of ACR. I believe v 2.4 is the last version of ACR that CS can use. ACR is up to 3.3 or 3.4 now. BTW, I tried using ACR 3.1 with CS and it wouldn't work.
Shel "You meet the nicest people with a Pentax" > [Original Message] > From: Christian > with the latest ACR for CS (can't remember the version) > CS loads PEF files without an issue.

