FrontPage is, in fact, superb.
Any version after and including FrontPage 2000 is an excellent web authoring tool, and the latest FrontPage 2003 version kicks the tar out of programs like Dreamweaver, that cost almost three times as much to buy. In fact, if you ever have to work with data sources for your sites, FrontPage can connect to and use more data sources than any other web editor on the planet.
You have to venture beyond the cheesy built in themes and templates to get the best out of FrontPage, but if you get your head around its tools and how they work you can create stunning sites in no time at all.
It has its quirks, but FrontPage is and will always remain one of my favourite web developing tools.
Many people would have you belive that Dreamweaver is the be-all-and-end-all and I would say that yes, it is an excellent program but it is not without its faults. There seems to be a very unhealthy snobbery attached to all web designers who do not use Dreamweaver, which I've never quite understood. It is good, I use it [and a lot of other programs] regularly, but it has some spectacular limitations and if you don't know your underlying code you could end up really scratching your head when its output is not as it should be and you don't know how to fix it. Contrary to popular belief, Dreamweaver does not produce 100% accurate output all of the time and when it does trip up it does it in style.
Other alternatives could include the truly superb Adobe GoLive, or good results can be achieved with the more modestly priced NetObjects Fusion, provided you dig deep into its available toolsets and functions to take more control over your sites than the program normally allows.
At the end of the day all you need to create a fantastic site is Notepad and for longer than I care to remember that's how I used to code sites in my early days of web design. I'd either manually hard code using Notepad in Windows or counterpart simple text editors on the old Apple Macs.
The editing program is of little importance in the grand scheme of things, compared to a firm idea of your design output and your ability to achieve it. Provided that you have a very good idea of what it is you want to see on the web I can't think of much I might want to do that FrontPage would not be capable of.
If you learn FrontPage in and out you will be truly amazed at what it can do. It is still the only web authoring program I know of with so many built in tools for form handling, dicussion boards, database integration and similar, that are all done on a point and click basis if you aren't comfortable with code. Or if you do want to edit your own code, it will allow you full access.
FrontPage, Dreamweaver, Adobe GoLive, Notepad - they all depend on the user for their output.
I'd suggst that you take a look at some of the real capabilities of FrontPage before you write it off completely. I can point you to some excellent tutorials for the more advanced features it sports, if you want to look into them.