There are ways of getting the some of the masking done in PSE. I use it frequently. You can use the copy channel functionality in CM to create a mask that you can use in PSE for an adjustment layer. CM really does extend the abilities of PSE in a huge way.
Jacob's ladder is a way of correcting an image that is not using CM but allows much of the functionality that CM does with a much finer control of some of the more troublesome adjustments.
If you are new to CM and need some help please continue to ask questions. You can also take the CM101 class. We cover a large amount of information in 6 weeks.
Greg
