Chessmaster Challenge was released way before 2009. It was released (about a year) AFTER 10th Edition but way BEFORE Grandmaster Edition.
Chessmaster Challenge is just a stripped down Chessmaster 10th Edition. A very stripped down version - it is stripped to the bone actually.
So there sholdn't be any doubts - purchase Grandmaster Edition or at least Chessmaster 10th Edition. Chessmaster Challenge is a waste of money for what you get.