This simply means that you cannot alter tables using the visual interface. You can use Management Studio for this, of course (and I prefer that, actually).
ADP projects do support bound controls.
That said, MS recommends that you use linked tables instead of ADPs. While you can still create an ADP in 2007, support is being removed for them and I'd urge you to consider linked tables.
.NET is certainly an option, but if you do that you should consider SQL Server as your data store.
For my money and time, I don't think you can find a better RAD tool than ACcess ... but then I'm biased somewhat