I needed a psd content processor and found one here it is based on the EndoEngine. The one available depended on XNA 3.1, I did some clean up on the project and made it available via my account on github. 
We (at BatCat Games) are working on a Content hot loader that will be available open source soon (at the moment it doesn’t really work ) it will probably include this content processor.
The code comes with a sample game that displays a Photoshop file as a texture.