Thanks for everyone who offered suggestions on this topic. After a few days of experimenting I settled on running Photoshop CS3 on this old laptop. CS3 is contemporary with the computer and is surprisingly fast when working with K3 DNG files. It's a very usable system and will be fine for light processing on the road.

I tried CS6 and while it installed fine it was unusably slow. Several minutes to read and open a K3 raw file, constant churning of the hard drive. I had CS5 on this machine before the HD crash, but CS was unusably slow. I also tried PS Elements 5 but did not like the interface. Also installed Photoshop CS1 and CS2, but could not get either to be functional - activation problems with CS1 and CS2 would install but crash as soon as I launched it. So CS3 is the most basic version I was able to install, activate and use.

The fresh install of Vista has proven to be much better than what I was using before. It has literally spent days downloading and applying updates and I'm still not sure it is done - it will report "no new updates" and then an hour later ask to install the 32 updates it just downloaded...

At any rate this solution works and I can put off buying a new device for a while longer.

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