Wordpress can't really do everything Dreamweaver can do because Wordpress is a CMS (Content Management System) whereas Dreamweaver is a website design.
Having said that, everything you need to do on your website is likely available to you in Wordpress. Unless you are developing a very rich, high functioning web site, I would highly recommend Wordpress.
It doesn't hurt to have both Wordpress and a site editor because you can use Dreamweaver to design custom HTML for your Wordpress posts.
You can't really design a template in Wordpress per se but you can easily download free templates. If you want to really make your site look nice, I would recommend buying a theme from either Studiopress or WooThemes
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