Hm. I don't really use Dreamweaver except as a code-highlighting ftp program, but I always seem to end up defending it against these kinds of charges.
Dreamweaver is a poor product in a certain way; it's actually pretty difficult to use it to create good markup until you have already learned how to create good markup without it. But provided you know your way around valid HTML, it makes a decent IDE, and provided your markup/CSS is not too complex,* you can get a lot of mileage out of it by using the wysiwyg tools to save your having to fully type out links, anchors etc.
The closer your pages are to simple, structured documents, the more you can use the wysiwyg environment to speed up the process; for this type of work, even its CSS tools are pretty good.
*Is anyone from Macromedia reading this? Dreamweaver (at least up to the MX release) is totally inadequate as a wysiwyg tool for designing with complex floated or positioned divs. Just thought you might like to know...