They just announced version 10 of PSP, dubbed "Paint Shop Pro X", and it looks like my fears are coming true. Of their "top ten improvements", only one is even the slightest bit compelling, and that's their boast of improved performance. The rest are filter-tweaks, some new wizards (John waves his finger thusly to indicate "big whoop"), some third-party tutorials, and some "all new special effects" (read: clipart).
Strangely, the Paint Shop Pro X page has disappeared from the web. If you search for "Paint Shop Pro X" on Google, the top link no longer goes to the new product page. You can read the cached page if you wanna be as impressed as I am.
I ain't feeling the pull to upgrade.