I have to use Corel Draw for work. I have used 12, X3, and X4. I don't recommend X3 or X4. Way too many bugs. Crashes alot, printing problems, a number of other things. They are on sp2 now. X3 & X4 do have some nice additions to the program, but until they get the bugs out..... It's kinda like a beta program unfortunately.
As for Photo Paint, it's alright for basic photo manipulation and retouching. I wouldn't want to try and create a painting out of it tho.
I would say if you really want Draw and not Illustrator, get 12.
You must have faith in yourself when no one else will....like now for example.