Nice shot.
The key to editing this photo in Photoshop is to use blending modes and layer masks:
With your original open access the Layers palette and make three dupes of the background layer. Set the blending mode for the dupe above the background to Screen and turn off the other dupes. The image will lighten. Now turn off all the dupes so that you're seeing the original again. From the Select menu pick Color Range. From the drop box pick Shadows. Use the Lasso tool and shift key down to add any of his face to the selection that Photoshop missed.
Now back to Layers; turn on and select the first dupe that we already switched to Screen mode. With the selection active go to the bottom of the layer's palette and click the mask icon. Now you need to edit the mask some. Start with Photoshop's Mask palette and pick refine mask edge. Raise the radius about a 1/3 up, contract a little and add a slight feather.
Repeat the above process with the next dupe layer. You may need to paint on the mask a little to fine adjust -- I did on his hand. The real tricky part is the masking -- with this much of a change the masks have to be precise to avoid showing artifacts.
I used three dupe layers in Screen mode; the third dupe layer was at partial opacity. When that was finished I used a Soft Light blending layer to tweak the contrast up a smidge and finally I white balanced the photo to remove a slight blue cast.
Take Care,
Joe
Edit: I read back and noted your question about more vibrant colors. In this edit I adjust the colors to be accurate. If you want to alter them in Photoshop use The Hue/Saturation control under the Image--Adjustments menu. I recommend however starting from a neutral position.