A little late to discussion, and I thought $49 was cheap when I got X3. Probably means X4 is around the corner, but nothing wrong with X3. I have been a Paintshop user since it was a shareware program and upgraded through the various versions - usually skipping one generation.
It is an amazingly powerful program usually exceeding the needs of beginners. Will do 90% of what Photoshop will do, and is probably the reason Adobe was forced to create the "Elements" as strong as it is, just to compete in that price range. About the only advantage "Elements" has over Paintshop Pro is a menu structure similar to Photoshop and a generous upgrade path that returns Elements suggested retail.
With this time limited special, I would pick up Paintshop Pro immediately. Corel has a lot of training movies online to assist with learining basic and advanced techniques. For those with time to evaluate before purchase, both Corel and Adobe offer 30-60 day trials.