That's not true, Zerg.
Gif work in PS CS3 is a bit odd. In order to import animated gifs you'll need to go to File -> Import -> Video Frames to Layers... and you'll need to actually type a bit of whatever gif you're looking for because the import loader for whatever inane reason doesn't show the gif file type but it will once you type it in the File Name field.
And also, CS3 has this terrible habit of turning any transparency it loads from this import routine into a white background. It really is terrible and I hate it. I'd recommend Image Ready CS2 if you can. I appreciate that Adobe is trying to merge Image Ready into Photoshop but they're doing a really half assed job of doing so.
Here I import

into PS CS3.
I hope that helps. =)
Jam it back in, in the dark.