I own both PS and LR3, but my post processing time is almost exclusively spentin Lightroom 3. In addition to fairly powerful editing functions in LR, the output functions are powerful and very easy to learn and use. The only disapointments i have had with LR was its noise reduction in previous verisons. But, in LR 3, the noise reduction is very clean. Since buying Lighroom it is very rare that I even open Photoshop. I should have asked the same question you are asking when I started taking an interest in digital photography.
Bob