Adobe Camera Raw, which you get free when you buy Photoshop CS4 or Photoshop Elements 7, has been updated to Version 5.2 replacing the old version.
ACR 5.2 adds support for the newer cameras such as the Canon EOS 5D Mark II which should come out anytime now, the Canon G10 and Panasonic LX3. Also supported are the Leica D-LUX 4 and Panasonic G1, FX150 and FZ28.
The new version now also features a Targeted Adjustment Tool so you can scrub directly on the image with your cursor to adjust specific values and output sharpening is now available for print and screen display.
The Mac version of ACR 5.2 is available here (40.8MB). The DNG Converter is available separately here (41.5MB).
For Windows users, ACR 5.2 may be downloaded from here (40.1MB) and the DNG Converter here (35.1MB).