To me, comparing a CMS vs. a desktop publishing program is like comparing apples to oranges. Each has their function, use, and pros/cons.

Pros to CMS: free. decent (free) support. allows remote users to update site without needing extra software. works with any OS + web browser. themes allow easy change of the user interface without having to change a lot of data. a inexperienced person can throw up a web site easily.
Cons to CMS: lots of security vulnerabilities, so you have to keep ontop of upgrading the software. Can be difficult for an inexperienced user to install. May require help from webhosting company to support the CMS (though most should). can look cookie cutter like (i.e. generic no thrills web site that looks like 1000s of other web sites).

Pros to desktop publishing apps: can work offline and then upload changes. more granular control of site. support from a manufacturer.
Cons: a lot more work involved (in my opinion), should know web programming languages well (CSS, HTML, etc), can be expensive to purchase apps (dreamweaver retails for $399). probably will want to hire a web designer to do this.

I probably missed some items, but that's what I can think of off the top of my head. I use Joomla on my personal site on my personal server. Lots of bots probing for vulnerable Joomla installs all the time. My business site, however, I plan to transition to Joomla or Wordpress in the near future. Just need to get a web designer to make the appropriate themes and logs.