The Scale Strokes & Effects-option used to reside in the Preferences dialog box.
Seems like it has been removed in CS5, anyonene know why, or where a simmilar function
may be found?
Thing is, when i add a Stroke (Layer Effect) to a layer, the thickness stays the same when I
transform/resize(ctrl-T) that layer. I really need the border to shrink accordingly as shown in
the image below.
A workaround would be to convert the layer to a Smart Object, but when working with all too many
layers, it's more about saving time.
The only such option I know of is in the image size dialog.
Don't remember seeing such an option in Preferences. You are getting confused with Illustrator.