Here's how I got Photoshop Elements 3 to run as a non-admin user. This assumes your short user name is me, and your admin user's short user name is admin_user. Open Terminal, and type the following (don't enter the $; that's the prompt character):
$ su admin_user Password: Enter your admin_user password $ sudo chown -R me.me /Applications/Adobe Photoshop Elements 3 Password: Enter your admin_user password $ sudo chown -R me.me /Library/Application Support/Adobe/PhotoshopElementsHelp $ exitPS Elements 3 will now run quite normally as a non-admin user...


And, by the way, therein lies the hint: Help is no longer generic HTML, it is a customized version of Opera.
So far, my initial satisfaction with PSE3 is decidedly negative. Sure, it does a few more things than Graphic Converter, but it does everything in a more difficult and less intuitive way. Fortunately, if I get my rebates done correctly, it won't have been too costly a mistake.