Yes, dreamweaver 3 is quite updated but it may work better then the new one with some old computer. The newest dreamweaver release is dreamweaver CS. Here is macromedia page for it:
http://www.adobe.com/products/dreamweaver/?promoid=BPDEC
Do not confuse dreamweaver 3 with adobe creation suite 3. Adobe Creative suite 3 is the latest suite containing dreamweaver cs and all the latest software distributed Macromedia.
Cheers
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