Anyone here who has any positive or negative experience from ubuntu?
It's an excellent operating system and I like it very much. Unless you're very competent with computers, I would advise against it.
While it's excellent for general purpose use like office applications, web browsing and email, it's not suitable for multimedia content creation unless you're willing to go the extra mile.
Also, will software like Adobe photoshop run on a ubunty based system?
With great difficulty.
You can run some windows application in Wine. I've run Photoshop Elements 7, Neat Image, Photomatix and some other stuff that I don't remember via Wine. So it's not all bad, but just be aware that you will get compatibility problems.
Unless you have good reason to, I would suggest you stick with Windows and Mac.