I'm not clear on exactly what you've done.
CS5 ships with Camera Raw 6.0 so you have not updated from Camera Raw 3.0.
What steps have you taken exactly? Which camera make and model are you trying to import Raw files from?
That's interesting! I'm not sure why I have Version 3.0 installed then???
Maybe I would be better to delete Camera Raw 3.0 altogether and see if I can re-instal Camera Raw 6.0 from the Photoshop 5.0 installation disc. I'm a little concerned that this hasn't automatically installed in the first place?
I'm just waiting to find out what camera these images are from.
The camera that the files are from is a Canon 5D mklll.
That camera does require Camera Raw 6.7. I don't know where you would have picked up Camera Raw 3.0. It is only compatible with Photoshop CS2. If you go to Help->updates in the Photoshop menu, is there anything available for you?