I still use CS2 but in combination with Lightroom. So I import into Lightroom then from LR, export into CS2. Unfortunately, this involves LR converting the files to TIFF format first which takes up a lot of space but yea, it can be done.
My copy of CS2 doesn't support the D80's NEF files. Maybe an update will help but I'm happy to use the above method.
If altering white balance is all you're after, LR, or an equivalent program will suffice. I'm sure there are many more than just LR but thats what I'm familiar with.
Capture NX is waaay more advanced than Picture Project in terms of image editing. Give the trial a go!