ANOTHER UPDATE 18/06/2010: Probably best to contact Adobe to make sure if the bellow post applies to your country. I have found a link to the Australian FAQ in which it says:

“Can a student or teacher use the Adobe Student and Teacher Edition software for commercial use?  Yes. Those who purchase this product can use it for personal as well as commercial use.”

- but again it’s best to check with Adobe.

UPDATE 16/06/2010: the post bellow may only to apply to some countries such as the US and UK, in Australia for example the policy might be different so you can’t use the software for commercial use - see here

“Can a Student Edition also be used for commercial purposes?

Student Edition software is for noncommercial purposes only.”

but this refers only to the student edition not the student and teacher edition and talks about CS4 so they probably just haven’t updated the FAQ yet. To add to the confusion when you are in the Australian online store and click on customer service it takes you to the US site, you then click on the FAQ and get those relating to the US also in the restrictions on use section for the products in the Australian store it makes no mention of being not for commercial use.

ORIGINAL POST 13/06/2010: Just found this at Adobe and I don’t know if many people realise what seems to be a change in their policy (A change for the UK but it was already like this in the US):

Can I use my Adobe Student and Teacher Edition software for commercial use?

Yes. You may purchase a Student and Teacher Edition for personal as well as commercial use.

Can a student or teacher continue to use Student and Teacher Edition software after graduation or upon completion of training?

Yes. After graduation or upon completion of training, an individual may continue to use Student and Teacher Edition software.

As a teacher I think this is great for my students - and for me :) as I can get PhotoShop and Illustrator much cheaper and still use it for my commercial work - Rhino 3D (3D CAD program) have had a policy like this for quite a while and Microsoft is running it’s It’s not cheating promotion - good stuff.