Graphic Workshop's file conversion capabilities are second to none and its special effects tools are above average, but Graphics Workshop does lack Paint Shop Pro's extensive feature-set of image manipulation tools (especially the advance image filtering and color replacing tools). Yet despite its limitations, it's still tought to beat a deluxe do-it-all graphics program that costs less than $50.
Pros: Tons of graphics formats supported, integrated GIF Construction Set UltraLight and screen capture camera utilities, solid image conversion capabilities and other valuable features
Cons: Lacks advanced image manipulation tools and support for advanced Photoshop graphics, relatively costly, somewhat outdate (no major updates in several years)