Photoshop Elements 8 3GB memory limit

Folks,

I'd ask this over on Adobe's forum, but it seems to hang redirecting in a loop whenever I try to login.

Perhaps someone knows here. I'm using Photoshop Elements 8 and it won't allow me to access more than 3GB (although I have 8GB installed on my iMac). Is this an OS limitation? Program? Is it a 64 bit application?

Anyone know if Elements 9 would allow me to use more of my memory?

Thanks