Well, lets look at what you are looking for.
1) page designs
Dreamweaver will work fine for this. So will notepad. Depends on your level of experience.
2) blog/comment design and build
This is a 2 part thing. To create a blog or comment section, you need to have the design of the page, but you will also have to create a database to store the blog entries or comments. There is no tool for this, you have to learn html/php/asp etc. You can get a program to assist, textpad pro is what I use for PHP. But it will not write the code for you.
3) decent graphics, but not overstated is fine
Again, you can use a program to assist you with this, but no program is going to come with more than clipart. You have to do the work yourself.
4) interface tecniques for advertising (banner, and others) to interface with outside firms
Same as before, you will need to know a scripting language to do this. Be it java/php/asp, no program will do this for you.