I tried out the beta version of Capture One 4 over the weekend. Unfortunately I only spent a couple of hours with it before I abandoned the test. Points of note:
1. I like the "HDR like" approach that pulls details out of shadows and highlights. For shots that haven't got too much DR, this saves a lot of work combining frames in CS2.
2. One serious shortcoming of the old LE was the inability to rotate the image slightly. C1 4 does this.
3. I was not able to get the same detail out of my pics as I can with the old C1 LE. Rather surprising - perhaps I didn't persevere long enough. This would be a killer for me.
4. When running both LE and 4, one cannot save the images out of LE.
5. The end came when C1 4 informed me that all of my .MRW files were either an unsupported format or corrupted! I uninstalled the software and will wait until the official version 4 arrives for the next trial.