In my limited and humble experience:
This question can not be viewed as an either/or. As a current graduate student, I utilize CAD, 3D modeling, hand graphics etc. in concert with Photoshop and Illustrator. The two programs in question are complimentary to each other, being raster based and vector based respectively.
In short, they each have their strengths, but are strongest when used together.
You might consider a “layer management” standard for your office, since the organization of layers and masks is the most crucial part of working with complex Photoshop and Illustrator files (especially when multiple people are working on the same file)
Hope this helps,
Brian
