From my own experience, just one tool won't do the job. I use a wysiwyg
editor like Web Dwarf to get the "look" of the site down. Another
alternative is Webbuilder. (These use proprietary formats to then publish to
html.)
I then switch to text editing to "fill in details" or tweak the look using
Notetab Lite. (Also, consider PSPad.)
Some people here will recommend the wysiwyg editor NVu. It can switch back
and forth between text mode and wysiwyg mode, but I find it buggy when it
comes to layers. However, it is useful to generate strictly compliant code
bits which can then be inserted via your text editor.
Urls:
Web Dwarf :
http://www.virtualmechanics.com/products/dwarf/
Webbuilder :
http://www.pablosoftwaresolutions.com/
NVu :
www.nvu.com
Notetab Lite :
www.notetab.com
PSPad :
www.pspad.com
M