On October 15th 2008, Phase One has released Capture ONE version 4 PRO.

Capture ONE comes in two versions: "normal" and PRO.

The PRO version offers the following additions (compared to Adobe offer):

• tethered shooting with image capture directly into the program - not available in Lightroom/Photoshop;
  
• multi-monitor support - like Adobe Lightroom v2 does;
  
• customizabe workspaces - Photoshop here is superior, while Lightroom is flexible but does not really support workspaces;
  
• CMYK color space (used for professional printing) - that Lightroom does not provide yet, while Photoshop does
  
• an interesting moire reduction - that neither Lightroom nor Photoshop provide yet natively (yes, you can tweak sharpening but is somehow different)
  
• the lens correction tool, that is more or less the same as in Photoshop/Adobe Camera Raw and in Lightroom but an interesting additional feature is offered: sharpness falloff correction.

To complete the comparison, Lightroom v2 offers at least a couple of great tools that Capture ONE does not provide: gradient filter and localized corrections.

Capture ONE 4 PRO is offered at 399 $ (299 $ the upgrade from basic v4) or 299 Euros.

The link for Phase One site is here.