CS3 Integration
Make sure to take advantage of your layer comps when bringing psd files over to other applications, like InDesign.
Working With Illustrator Files
When you bring over your Illustrator files into Photoshop, be sure to place them as smart objects so that they will update themselves if you make changes to the original.
Type Effect
Apply a layer style and then reduce your text layer’s fill opacity to create this interesting type effect.