The standard tool for professional typesetting and book design – Adobe InDesign.
I've always seen ID as a graphical design tool and not as a manuscript authoring/publishing tool.
Sure, you can plop a bunch of text in there, but it seems to be that it is very structure-free when it comes to layout, whereas the stuff I mentioned is more line-oriented, and therefore more focused on text. Does it have things like footnote/reference tracking? Spell- and grammar-checking?