I have received a PSD file from a cover designer. Although I can open it in PSP, I get a warning about unsupported features, and the image I end up with is incomplete:
What are my options? Do I need to by Photoshop Elements if I want to work with this and future images? Is there a way to get it converted?
Things like text, paths, smart objects, and many layer styles and blend modes are not supported by PSP because PSP just doesn't have them.
So, technically Photoshop would be more compatible yes. Whether or not Photoshop Elements will have everything you need as well I couldn't say.
Your other option is to find out which elements are not being transferred over and have the designer blend as many elements as possible down to simpler configurations or flatten it completely losing all of the layers and everything.