I have Lightroom 5, Photoshop, and Portrait Professional.
I shoot in RAW and always begin my work in Lightroom for most adjustments and especially cataloging. I'd guess 90% or more of my time in there.
I use portrait professional sparingly and I have many of the features tuned down or off entirely. For example I always have the shaping feature off as it is too heavy handed. The default skin corrections are as well but once you set them correctly and build a profile it really is nice and simple. However, even with the facial recognition capabilities, it is of course imperfect. Most times It doesn't quite get all the right skin area masked (most commonly under the nose), but you can adjust that.
All that said.... there is a default "Skin Softening" brush in LR that works very well, which can also be adjusted. I find the -100 clarity too much and back it off to about -65 or so.
Then there is photoshop, which just lets you do everything but it requires a much greater patience for its longer learning curve. However, once you get a feel for the workflow there is nothing else comparable.
I really don't even use Portrait Pro much anymore at all. One thing I find frustrating is that once I make my LR corrections and export to "Edit in Portrait Professional" it requires me to make another TIFF file first, then PP wants to make its own picture adjustments, etc... then I send it back to LR and have to dump the original TIFF.... It's just sort of a pain in the ass.
The new version can work with RAW files supposedly but I haven't tried because they don't have near the capability of LR.
Further I find the flow between LR and PS much smoother than between LR and PP (for obvious reasons... both are Adobe). When importing lots of files at once to PP, it gobbles up excessive amounts of RAM and CPU, especially if LR is running in tandem. I have a Mac Pro quad core thank God. Before I had a Mac Mini and running those two together was physically painful.
Bottom line is this. Adobe lets you get PS and LR right now for $9.99 per month. It's a friggin steal. You'd be crazy not to get it. But do as much of your work as possible in LR5. There really are a ton of tools in there and only go to PS when you really need to for complex edits and adjustments. Staying in LR (or any comprehensive single program) will really keep your workflow simple. The more exporting to other software you do, the more your workload increases exponentially.