Photoshop CS5 offers a wide range of features that make it an industry-standard for image editing. Some of its key features include the Content-Aware Fill, which allows users to remove unwanted objects from images seamlessly; the Puppet Warp tool, which enables users to manipulate objects in a more intuitive way; and the improved Camera Raw plugin, which supports a wider range of camera models. Additionally, Photoshop CS5 provides a comprehensive set of tools for adjusting and enhancing images, including support for layers, filters, and effects.