From the readme:
Top new features
New photo features
The Smart Photo Fix feature automatically corrects color, brightness, sharpness, and saturation while also letting you fine-tune the suggested settings.
The Makeover tools lets you retouch the faces in your photos to remove flaws, just like the airbrushing done by magazine photo editors for their models. You can choose among the Blemish Fixer, the Toothbrush, and the Suntan Brush.
You can quickly zap red-eye from your photos with the click of a mouse using the Red-Eye Remover.
The Object Remover makes it easy to remove an unwanted portion of a photo and it uses portions of the remaining photo to fill in the area removed.
With one click, the One-Step Purple Fringe Fix lets you remove the purple glow that surrounds high-contrast edges of objects in many digital camera photos.
Paint Shop Pro X now offers the High Pass Sharpen command - a new, powerful way to sharpen digital photos.
With Black & White Film and Black & White Infrared Film effects, you can simulate IR film or black and white film taken with colored filters.
The One-Step Noise Fix feature lets you remove digital camera noise or film grain with one click.
Paint Shop Pro X supports 16-bit-per-channel functionality, which lets you work with thousands of shades per color channel rather than the 256 shades per channel allowed by the 8-bit RGB color model.
The Color Management engine lets you read and save color profile data with your photos and improves screen-to-print color matching. Paint Shop Pro X also supports color-managed CMYK TIFF output, which is useful when working with commercial printers.
Improvements to File Metadata lets you add copyright data and other IPTC information. Paint Shop Pro X also reads EXIF rotation data inserted by many digital cameras, allowing portrait-mode photos to be automatically rotated.
New user interface features
The new Learning Center guides you step-by-step through common photo-editing tasks to ensure that you can easily get the job done - even if you are just starting to use Paint Shop Pro.
The Browser has been enhanced to offer more options, such as a Zoom slider for quickly adjusting the size of thumbnail previews, EXIF editing, an option to download photos from a digital camera, and the ability to dock the Browser in different workspace locations.
The redesigned Layers palette provides thumbnail views of each image layer, making it easier to use and understand.
With the new Pick tool you can select, move, resize, and rotate both raster and vector objects.
New performance features
Paint Shop Pro X offers faster start-up speed so you can view your photos in a flash.
Now that Paint Shop Pro saves undo and redo data, you will benefit from faster Undo/Redo of multiple steps.
Using File Open Pre-Processing, you can run an automatic script to save time when opening single images or batches of photos.
Familiar favorites
Paint Shop Pro X retains the favorite features of longtime users. The following easy-to-use features continue to inspire hobbyists and professionals to do more with their photos:
One-Step Photo Fix. With just one click, the One-Step Photo Fix command automatically adjusts the color balance, contrast, clarity, and saturation of an image. It also sharpens the image.
Background Eraser. The Background Eraser tool lets you easily erase unwanted backgrounds while retaining the fine detail in your photos. It's a perfect first step before copying and pasting elements from one photo into another.
Raw file format support. Paint Shop Pro X continues to support the Camera Raw file format. You can open, enhance, process, and convert images that were saved on your digital camera in the Raw file format.
Picture Tubes™. A longtime favorite, the Picture Tube tool lets you paint on your photo with a collection of professionally-designed artistic elements. For example, you can add butterflies and beetles to a picnic setting, fill an aquarium with fish, or frame a picture with holly. Picture Tubes are available in a variety of themes, including Animals, Artistic, Embellishments, Nature, Photo Objects, and Plants and Leaves. You can also create your own picture tubes.
Scripting. A Paint Shop Pro powerhouse, scripting can save you tremendous amounts of time, especially when you are working with batches of images. You simply record a series of commands and then play them back to process an image or batch of images.
Batch Processing. You can easily process batches of images with Paint Shop Pro. The Batch Process command lets you use scripts to apply fixes to batches of images, and you can also convert batches of images to a different file format.
Lens Correction filters. Paint Shop Pro continues to provide excellent Lens Correction filters that help you correct common photo distortions, such as fish-eye, barrel, and pincushion.
Perspective Correction tool. With this tool, you can easily fix buildings, landmarks, or other objects that appear to be leaning away from you in photos taken at an upward angle.
Straighten tool. This tool lets you quickly align crooked photos by just pointing out a line that should be horizontal or vertical but isn't.
Scratch Remover. The Scratch Remover tool instantly removes scratches, wires, and other linear flaws from photos. This tool is particularly useful for removing scratches or cracks when restoring old photos, and is also an incredible tool for reducing face wrinkles in photos.
Clone tool. The Clone tool lets you cover flaws in your photos by copying detail from a neighboring area. You simply choose a source location and then draw over the flawed area of the image. This replaces the flaw with detail from the source location.
Motion Blur. You can add Motion Blur to a photo to create the illusion that the photo was taken while the subject was in motion.
Distort photos. The Warp Brush lets you create caricatures of your subjects by distorting pixels in a particular area of the photo.