Adobe Creative Cloud: Mac App Alternatives? A couple of days ago Adobe announced that its Creative Suite Software is to be rebranded as Creative Cloud, the development of its creative suit line will come to an end.

Whilst Adobe CS6 will still be supported and available for purchase, all future products will be provided through the subscription-only Creative Cloud service. However even with discounts, Adobe's software was out of the price range for many students and entry-level professionals.

However I see a problem in that alot of people don't always have guaranteed income. If income runs short one month and they can't make the subscription payment, their access to the software that provides their livelihood is cut off. Whilst other won't want to be tied to a subscription service or use the cloud.

So therefore my question is:

What are the best Mac App alternatives which are cheaper (or perhaps free), that provide the same or similar core functionality in each of Adobe's products to make your very own Creative Suite ?

Edit:

Perhaps one app per answer with a link to the Mac App Store, and brief description.
For a Photoshop "equivalent", there is already Photoshop Element (80$) that is cheaper but has much less functionalities. 

Of course there is also Gimp (Free), but IMHO it's horrible to use on OSX and not available on the Mac App Store. 

If you're looking for a simple and quite powerful software for your money, there is Pixelmator (16$) or Acorn (currently on sale for 30$).