Surprisingly, Photoshop CS4 does not support the RAW format from Nikon out of the box. I did discover that if you update the RAW converter here, you can then open and edit the NEF files.
One minor note on that topic - I had to manually copy the plug in to each of the plug in directories, for both 64 bit and 32 bit and restart to get it working, the install did not do it alone.
Thank you for posting this information. Was thinking that I might have to cave and buy Nikon's proprietary editing software.
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