Hi,
Short answer, yes (but you will have restrictions) but the whole concept behind using Wordpress is that you can use the plugins and customize it the way you want. The "web pages" look similar to the "Blog pages" and it is
SEO ready and so much more.
You don't need Dreamweaver if you've gone the Wordpress route. From what I can see ThemeDreamer assists you to create "themes" in Dreamweaver. If you are just creating one theme (your own site) then not worth the cost but it's your budget. Once you've created your "theme" or "look" for your site in Wordpress, all further pages, including your blog is done except for content. (Wordpress experts correct me here) I believe the difference between a blog page and a website page is the plugins turned on or off as the case may be.
The beauty of Wordpress is that makes updating (including a blog) painless as the formatting bits sit in the background and are rarely changed so a beginner can run their own site painlessly. Wordpress allows for comments, categorization, search-able, you can add contributors, and it uses a database to push the content out. With a simple diary, these elements would be difficult to include.
Now on the plus side if you know both Dreamweaver and Wordpress you've make yourself so much more marketable IMHO.
Let's hear what others have to say.