I read the query that you have written.
If you want to take images from Lightroom to Photoshop then Bridge plays no role in between.
Lightroom itself have the image manager that is the Library module of Lightroom.
However if you want to directly edit a few images say raw files without importing them to lightroom you can use Bridge there.
Also these directly edited images from Bridge to Photoshop will not reflect in Lightroom.
Bridge is generally used with Photoshop and not with Lightroom.
If you're a Lightroom user, Bridge offers you no significant benefits, Roy. It's like Explorer or Finder with a few more functions.
Similarly, PSD is a proprietary format and only provides obscure advantages over the non-proprietary TIF format. You can save in Duotone mode, use PSD's for Displacement Maps, and PSD preserves transparency in InDesign. Need any of those? Doubtful!
Thanks for your replies which have clarified things a lot for me - I have had trouble getting the answers from internet searches.
However, I did find something which also made things clearer, and the link, which someone like myself might find useful is:
The article is promoting some texture layers, but I found the information useful
Thanks again, Roy
Thanks for sharing the information Roy