An open question to the community:
What are the pros and cons of using Adobe's Dreamweaver?
What can Dreamweaver do that a couple of slimmer, simplier and faster apps can't do? What is it actually intended to do? Is it really an "industry standard" as some would say?
Dreamweaver has been around for ages and many consider it to be the unofficial defacto app for wysiwyg html editor. Personally, I feel it is overhyped, not because it is not good but rather it is often misused.
Many casual users do not fully appreciate the features DW has in terms of customization, optimisation and smart tools to construct web sites/pages the way they should be.
Out-of-the-box DW is pre-configured to create an html page of certain doctype, CSS etc. I've seen many who used the design interface blindy and ended up with lots of messy CSS classes, arbitrarily assigned element sizes and positioning and reduntant or conflicting styling. It resulted in huge file sizes and messy codes which are difficult to understand and maintain.
However, I see that as mainly an user issue. For those who really understand web design, html, css etc; using DW correctly and smartly can greatly improve productivity.
I am not an advocate for DW, in fact I rather use notepad. I just want to express my observations after seeing so many cases of people using DW like it is a word processor. Frankly, as much as Adobe would like it to be like one, I beg to differ.
My 2 cents.
I agree with O.K.W, Dreamweaver is good, however, it's not the best. As far as industry standard goes you will generally people working in a text editor instead of a WYSIWYG editor. This is largely do to the fact that Dreamweaver writes ugly code (if you let it write it for you).
There are several different options and inexpensive softwares out that are, from my experience, used more in the web design and development. On a Mac the main software I've seen used is Coda, Espresso, CSSedit, Eclipse and TextMate. On a PC I've mostly seen E-Text Editor, Visual Studio, and Eclipse. Also, as O.K.W said some people still use a simple editor like notepad or text edit.
As for your question about the advantages of Dreamweaver there are several. First of all, it does allow people who have no coding experience to create website fairly easily. Another advantage is that the user interface is made by Adobe. This means that anyone who is used to and comfortable with Adobe products will be comfortable with this software and the layout of the tools. There is also support in Dreamweaver to help adding special characters if you don't know the code for them. A lot of times this tool ends up in peoples "favorite tools" that Dreamweaver lets you set up. Dreamweaver also lets you set up ftp through the software (as do the editing applications mentioned above).
In the end one way to look at Dreamweaver's functionality and worth is by what you are planning to do. For example if you're going to use Contribute or ColdFusion (both Adobe products) then Dreamweaver is a very good option.