There are a couple of things reeway won't do, by design. One is handcoding: if you need that, go for the various flavours of Adobe, or BBEdit (small pieces of code can be placed on pages with precision, though).
The other is proper import of existing HTML. It does work sortof, but I guess what gets imported is flawed by inherited errors. Rebuilding from scratch is surprisingly fast though.
Once you have accepted the above, you will see that this product truely allows you to focus on what you want to achieve on the web, and not on how to do it.
The new version is a robust upgrade, bundled with the great FAST packs that used to be a pay for option, it does CSS, XHTML in a proper way, but it does not get in your face.
What you can achive on the pages itself (just look at the postprocessing of images!) really is great.

Highly recommended!