__hh
Well-known
Google Picasa 3. New release just out. Free and can't be beat. Works with jpg, tiff, bmp, and many raw formats. Give it a try. You will like it.
/T
I guess that it all depends on what features/actions are required to conduct basic photo corrections. If all you really want is to sharpen, crop, rotate, etc... then Picasa is all you would need (and I use Picasa for those functions as well as basic photo management).
However, if you want features such as localised (rather than global) edits, masks, filters, actions, then photo$hop (either the full version, Lightroom, or Elements) would be the way to go.