Lee
I looked at a number of RAW converters when I got my 40D.
Canon's DPP is not bad but a little "clunky" and I could not get the colours the way I like them.
I own a copy of Capture one but the version 4 happily creates a chach file in each folder you open of 1.5 meg per picture. And it does not clean up after itself so you have to go in and delete them manually. Absolute madness.
I run Bibble Pro which has a much better work flow once you get to grips with how it operates. There is a plug-in which works within Photoshop.
You can down load a 30 day trial verions from bibblelabs.com.
Silky pics did a very nice job on the conversions but the interface has been designed by a drunken japanees on speed.

It left me with a screamin headach.
If you want to stay within photoshop I suggest you give the Bibble plug-in a go
Theo