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They didn't seem like they were going to try to win over a hand coder except for the speed of production. I honestly haven't tried it yet though, would be interested if anyone has any hands on experience.
Their PHP code is appalling, is generally bloated, and still uses variables that have been depreciated.
Seems to be about as accurate as their xhtml/css support.
Thanks to MX, I have been forced to become intimately familiar with XHTML, CSS, and PHP far more so than I would have been, and now hand code almost all of it!
I shan't comment on what I think of MX's stability etc.
Flaws would inlcude that hard coding would only take up atleast half the file size that dreamweaver uses ... it's slow and not stable, also it does not keep up with new releases of php, mysql etc. etc.
Pro's would include - it's easy to use , great wysiwyg env. good beginner examples (i.e only in mx), simple installation.
verdict - good for beginners but pro's stay away.