Convert to Smart Object: Which version of Photoshop?

[DVX100Shooter]

I have Photoshop CS version 8.0 (I am sure this is an outdated version) it does what I need it to do so its all good until now! LOL! I just watched a Photoshop Podcast where they did a cool effect with some text and I wanted to practice the effect on my own. The thing is that they used SMART OBJECTS or converted the text to a SMART OBJECT. This must be something that comes in a newer version than what I have now. If this is true which version is that in?

 

[art metal art]

CS2 has it but CS3 uses it with all your effects that before this, were destructive. It meant that once you saved them the changes were irreversible. I love the feature in the Beta CS3. In CS2 I use the heck out of Version Cue but its not the same as Smart Object.