Great Moon! I think the damsel fly could use a little help though.
I've been a Nikon user for a long time N6006, D70 and now D7000 and have used Photoshop 7, Elements 8 & 9 and Lightroom 3. I loaded Capture NX2 because it was free with my last camera. I don't use it. I don't know of any advantages over Photoshop.
Not using Capture?
I think that is probably true for most Nikon DSLR owners. They dont use it and have no experience with it. (The only software that came free with the D-90 last year was View NX2. Capture NX2 was recommended, but not included. I feel it should be included w/camera but they gash you extra for it!) However, I feel it is what separates the Nikons from the rest. It really is one of the best parts of owning the Nikons.
Are you shooting in RAW? (Nikons .NEF) What is your processing work flow?
I personally cannot get PS Elements to come close to achieving what I can get Capture to do. But it doesnt do everything so I have elements too (for cloning and artsy filters, cut and paste, layers, better shape selection tools, etc.). But to perform pure picture enhancement adjustments such as focus sharpening, color control, contrast, crop, etc., it out performs elements. (IMHO)
I have an example of an edit in CNX 2
Camera settings: (Metadata)
Device: Nikon D90
Lens: VR 18-200mm F/3.5-5.6G
Focal Length: 200mm
Focus Mode: Manual
AF-Area Mode: Single
Shutter Speed: 1/400s
Exposure Mode: Manual
Exposure Comp.: -0.7EV
White Balance: Direct sunlight, A1, 0
Picture Control: Vivid
Contrast: Active D-Lighting
Brightness: Active D-Lighting
A smaller aperture would have helped with the initial micro focus and greater DOF but it was close enough to make a Keeper out of it by applying an Unsharp Mask adjustment to the damsel fly area only, and of course the close-up crop. I really like the ability to apply adjustments to specific area of the original .NEF Raw file picture without layering (although you could go crazy with it in layers) and saving it without losing the original. The color point technology of Capture NX2 is a really neat tool. I think the Nik filters add-on (plug-in?) for PS does the same things.