A new patch has been released for Photoshop, bringing the current version to v7.0.1. See more for the things that have been fixed. Here's the Windows version and the Mac version.

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The most significant fixes in the 7.0.1 release include the
following:
• Photoshop now saves alpha transparency data in Targa files
in the same way it did in previous versions.
• File Browser performance has been enhanced.
• If the color settings color management policy is set to "Off,"
Photoshop no longer asks to save changes unless other edits
have been performed.
• The total ink now defaults to 300% as it did in previous
versions of Photoshop.
• The color of white areas in CMYK files saved as JPEG files no
longer shifts.
• TIFF files with LZW compression are now written correctly.
• Files made with Photoshop now work better with Microsoft®
Windows® XP's automatic thumbnail generation.
• Favorites now function correctly in the Open dialog box.
• Picture Package no longer locks up when it encounters
incorrect file types while using custom page layouts.
• Metadata is better preserved in certain JPEG files.
• Photoshop no longer appears frozen when applying KPT3
filters.
• Photoshop now offers better compatibility with older Intel®
Pentium® III hardware.
• Photoshop no longer produces a program error when
resampling certain large 16-bit documents.
• An issue that prevented Photoshop 6.0 from opening certain
files containing layer effects and edited in Photoshop 7.0 has
been fixed.
• The Maximize Backwards Compatibility for Photoshop Files
preference now correctly sets the state of the Maximize
Compatibility checkbox in the Photoshop Format Options dialog
box when you save a file as Photoshop (PSD) format.