I hand code in TextPad. It is a very lightweight program that has color highlighting and allows you to have multiple files, that you can Ctrl + Tab around, opened at a time.

I think that Dreamweaver is a good tool, but it is way too bulky for developers that can hand code and know exactly what they are doing. I don't need a program to close my tags for me - that would be a feature I would instantly turn off.

Its all about how you use your tools.