Nichole,
the only way of knowing that without actually knowing all the features of CS2 that you use is to have you get a demo version of Elements and use it for a while. If it meets all your needs, then it's an excellent value. If it doesn't, at least you'll know. Keep in mind that you can upgrade from CS2 to CS5 at a pretty decent discount over the full price of PhotoShop so you have to consider the features/price relationships. Good luck.

Jim