I am just trying to get the hang of the post processing my digital photos. Up to now my main focus (no pun intended has been to get best shots I can in camera (on my 5D mk III). I am following the frequent advice to shoot raw. But now I am needing to do a little digital editing to prepare some photos for sharing (e.g. flickr for athletes I coach or my web page for business) and printing (on my own high quality printer - also 16bit - on professional 'glossies' and in photo books I want to produce).
My software to do this is limited to software that came with my Canon and PSE 10 but might work for now, although I will invest in new if/when I need to. My first problem is around bit depth. The raw photos on the 5D have 14 bit colour depth according to spec sheet. I can maintain this high quality through ACR if I use 16 bit option, but if I want to do any pixel level editing (e.g. red eye) it seems the only software that let's you use layers in a 16 bit image is full version of photoshop. Other options like PSE and GIMP only process layers in 8 bit/channel images.
Am I missing something? Any suggestions or do I just need to bite the bullet for full version of PS6? I have read other posts about pros of using LR4 and I may start there. But I don't to go down a path that blocks me from highest quality output. I understand that for flickr and web pages 16 bit/channel is probably overkill, but for my own prints the 16 bit prints seem to be better.