Adobe markets DNG as the most reliably readable format over time. They market this format as one that will remain consistent over the long run. They say that you can't trust a Nikon NEF file to be readable over time as software programs change so you should convert all your raw files to DNG. So, what does Adobe do? They discontinue support for their DNG to convert new Nikon/NEF files, i.e. Nikon D7000, to DNG format without upgrading to CS5. Thanks Adobe. After converting hundreds, if not thousands, of my NEFs to DNG for better future compatibility, I find the NEFs on my newest camera are not compatible without buying a new version of CS. I'm not feeling the trust here Adobe. You can keep your CS5 thank you very much.
If you download and use the latest version of the DNG converter, and choose the appropriate options, it will create DNG files that you will be able to open in your current version of Photoshop/ACR. That is the main advantage (in my opinion) of the DNG converter. If your camera is so new that your version of ACR cannot read your NEF files, the DNG converter provides a solution.