I probably do it slightly different than most. Open in PS CS2 RAW (of course) and adjust WB and exposure as needed. Then save as a .TIFF file and close RAW. Re-open in CS2 and make any other changes I deem may be needed. The reason I do it in this fashion is that I don't like the small image size on the RAW processer. I just prefer the larger image in PS. Old eyes and personal preference only. And, in theory at least, so long as you do all your work as a .TIFF image there's no image degradation. If there is another advantage to doing the PS work in the RAW processor, I'd be interested to hear it. Always open to learning new things.