As most of you know, Adobe didn't actually delete all the 'missing' functions of Photoshop when it created Elements. Most are still in the code, they just removed the menu/command to get to them. Not particularly good to keep the app's size down, but much quicker (and safer!) than deleting intertwined/interactive code.
Andrei (Andrew) Doubrovski claims to supply a patch (actually some javascript) for various versions of Elements, that restores a great many of the hidden functions. How many depends on the version you have.
BTW, all these added/restored function will cost you a whopping $12!!! Actually, only ten bucks for v.2, 3 & 4.
But, download the demo to be sure it works with your version of Elements.
BTW #2: I've downloaded the demo and will report how it works with Elements v.8. Pictures at 10!