Good riddance, I say. While it made sense from a continuity standpoint, having such extravagant superpowers seems an awkward fit for the Sandman's successor. He's called the Sandman because he gases people to sleep. Literalizing it is just so... it'd be like giving the Green Hornet insect wings or something, you know?

Also, I thought it was established that he gained the dreams from Wesley passing them on to him at his death.