The CS3 Installer does not let you run Photoshop on any other system but 10.4.8. If you have two machines, and one has 10.4.8, just simply copy over the /Application/Adobe Photoshop CS3/ folder and /Library/Application Support/Adobe folders… and magically, it will work.
If it says something about Invalid Product key or Invalid Install - see this link, how to manage this problem

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