When you use Cmd-Shift-3/4 it automatically saves a file to the root of the boot drive. The file is automatically named "Picture 1" and incremented to Picture 2, 3, 4 etc. These files are in PICT format, similar to BMP, and can be opened in almost any Mac graphics program. Open it through Photoshop, or just drag-drop the Picture 1 file onto the Photoshop icon.
With Cmd-Shift-4, you actually get two options. By default you get a crosshair that you can drag to select any amount of the screen. If you have the Caps-lock on, then you get a target cursor, and when you click on any window it automatically captures that window.
With OS X 10.0x, Apple didn't include this feature. Instead, they included a program called Grab.app for doing screenshots. With 10.1, they will bring the Cmd-Shift-3/4 capture feature back again.
One limitation of the key-combo capture is that you can't capture certain things, such as when you have a menu in the menubar open. This is because you would be telling the computer to do a mousedown-cmd-shift-3, and that doesn't work. If you need more than what Apple's built in screen capture ability offers, try
Snapz Pro from Ambrosia Software. It is an incredible utility, even able to make movies of your desktop. And it's available for both OS 9 and OS X.
Cheers!
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