Adobe have posted this question and answer PDF regarding Adobe products running on the new Intel-Based Macs. Looks like the Photoshop TV guys were right, a Universal Binary will not be available for CS2, Adobe will instead focus on making CS3 compatible with both Intel-Based Macs and the current Macs. CS3 could be available in the next 18 - 24 months if you look at Adobe's rack record for major releases.
Like most creatives who prefer working on Apples, I've been hanging out for some sort of concrete evidnece that the Adobe CS2 suite will run well/much better on the new Intel-based Macs under the Rosetta emulator, or that Adobe will release a Universal Binary update. Well I need a new mac within the next week, and decided to just go ahead and place an order for a 17-inch PowerBook any ways. I've also managed to find a two-tone purple laptop bag over at the Crumpler site named, The Dreadful Embarrassment.