Like many of you, we often start our designs inside Adobe Photoshop. It's a lot easier to do pre-design and visualization with Photoshop's lower overhead. Photoshop has added Text on a Path, and if you work in AE 6.5, this is good news.
Create your text on a path effect inside of Photoshop CS
Save your PSD file
Import as a Composition into After Effects 6.5.
Choose Layer>Convert to Editable Text.
Make any needed edits or animate the path text.