Comparing ImageReady to Photoshop is like comparing a lawn mower to a racecar. They both have wheels, but they're about as similar as Madonna and Mother Teresa. Cheesy humor out of the way, no, ImageReady is not a scaled down version of Photoshop. In fact, it's now a part of Photoshop. All it can do is prepare an already completed image for the web - efficiently reduce image size while preserving colors and so on. You cannot use it to edit the image in anyway. If you want a scaled-down version of Photoshop, have a look at Photoshop Elements, which is just that.