I doubt it. At some point your going to have to upload stuff, and that won't work. There is no open file system on the iPad for the choose file button to access.
However, if all you want is to edit some of the text, maybe. I've played with Blogger, and noticed that if I went into the options and changed my text editor to a more basic HTML compatible one, I could do most things. Again, no way to upload pictures.
Drag, drop, rearrange stuff, probably not without a mouse and pointer.
Not much help, I know. But if you find a good solutions I'd like to know. I've been considering making a Google Site.