Just wrote about this actually - there is nothing definitive from the company yet but some sources look to a possible mid-spring release.
Adobe as in "adobe acrobat" doesn't have a meaning per say. It is the name of the company. You will find many Adobe products at adobe.com
It is basically used for reading(acessing) the files with 'pdf' format(usually a text file downloaded from internet)..
Photo shop CS5 can be downloaded from the Adobe website (See links below) which will let you use it for thirty days as a trial version before you have to pay for it.
Yes.