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I will say though that that would be a nice feature for Photoshop to incorporate-the ability to specify a corner radius on a rectangular selection right away so you needn't go through these intermediate steps to create this very common shape...

At least the rounded rectangle tool is there now-before it arrived I remember either having to create the rounded corners by hand with more selection/erasure manipulation  [confused] or creating the shape in Illustrator in pasting it in...!