Better to get it right in the camera. Photoshop is not a correction tool but rather a tool for preparing images for print. Yes, it can rescue poor exposure to some extent and correct other errors, but the result is a compromise. Right first time will give a better result every time!
That is not always the case. Especially with professional digital camera’s (like my Nikon D2x) and shooting in RAW, many in-camera settings, e.g. contrast and sharpening, could have been set with post-processing in mind (in my case using Nikon Capture and Photoshop). Those camera’s, unlike the more regular point-and-shoot camera’s, are not designed to always deliver the best results right out-of-the-box.