Some of this will be down to what you actually want to do with your photos.
LR is great for organization and "development" types of tweaks (cropping, exposure, color balance, lens correction, brightness, saturation, contrast, spot removal, etc), but it will fall flat with higher end image editing functions (cloning, merging, layers, masks, etc). For those, you will need Photoshop (or Photoshop-esque) software.
I recently picked up elements (well, like, around March) and I barely use it (it was on sale at about $30, so I couldn't pass it up), 99% of my workflow is through Lightroom. That's mostly because I prefer to just touch up and tweak my photos than completely change them, and I'm too lazy to put in that much work

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(Though, you really can't beat the organization offered by LR...except with some of the categorization options...like the color labels... I hate the way that is setup).