Yes DW CS5 does not have unbelievable new features like Photoshop, and DW CS4 was a great release comparing to CS3 but that was because CS3 was not that good. Dreamweaver CS4 was (and still is) an excellent version and Adobe just made some new features to make it easier and faster to work with. They did just about enough to make it better. You don't change whats good and too much new stuff would have made it worse. DW is for professionals and you don't expect it to change much because that would mean more learning and that's not good. There is already too much new stuff web developers have to learn every day
I have the CS5 Master Collection and I can't really point out many new features but with Flash, they split it into 3 different programs: Flash Pro (like regular flash), Flash Builder (for flex servers and layouts), and Flash Catalyst (i have no clue what it does). I wish I knew how to use Illustrator but I don't. Soundbooth is badass and of course Photoshop and Dreamweaver are the best.
Flash Catalyst is for easy making of some simple animation effects. There's an excellent tutorials at lynda.com (http://www.lynda.com/home/DisplayCourse.aspx?lpk2=58711) and I suggest you take a look at it. If you use Flash in your workflow this little tool can really help you get things done faster and without a single line of code. If that lynda.com tutorial is too complex or in any other way doesn't suets you, you can always others on the net. I just stumbled upon one on YouTube (http://youtu.be/pZ2rq83Jhi4) you can watch.
@Leviathon: As much as I'd like to second your recommendation for Aptana Studio (I fell in love with it when I started doing heavy-duty JS libraries and frameworks before it became a Studio), I'm afraid things have changed in the last couple of releases. The PHP module has been withdrawn, so writing PHP in Aptana now is no easier than writing PHP in Notepad. That doesn't make me a fan of Dreamweaver, though -- it's a little big 'round the hips for my liking. And the only thing I use Photoshop for is a container for Fractal Design Print Pro -- I actually prefer Paint Shop Pro for most tasks on Windows. And for the Mac platform, I'd suggest looking at Pixelmator -- it's not quite as powerful as Photoshop, but it uses the GPU to do real-time preview renders so there's no waiting around for things like Unsharp Mask settings to show up. I realy do get the Mac complaints -- Adobe's stuff is still Carbon and hasn't yet been ported to Cocoa, so it essentially runs in an OS9 emulator. I'm sure they'll get around to it someday...
So far I have only found use for Photoshop CS5, Illustrator CS5, and InDesign. I was disappointed that After Effects and Premeire Pro was only available for 64-bit computers. I try to stay away from Dreamweaver, because after I learned PHP I have coded everything by hand with a simple text editor so going into Dreamweaver might not be the best.
I also code everything by hand and I still use Dreamweaver. I actually never used it as a WYSIWYG editor. I use it's Live View and WYSIWYG features just to see how things look like and find elements I'm working on faster.
I love dreamweaver's regular expression support, it allows me to find and replace a text in whole pages of one site.Latest cs5 offers support for some very popular content management systems.The best thing about adobe products are that they have too much functionalities which can't be explored even in one year.I always wonder is there any freeware or even paid alternative to adobe dreamweaver cs5.