David Persik has released a new version of Dream Paint, here is what has changed in version 0.01

Added a simple GUI (borrowed from DCDraw by Tom Waters)
Made a cursor you can actually see.
Added choice of line thickness.
Fixed some bugs.

Be aware that their are still some known bugs specifically:

Quit in the GUI doesn’t work right (just press the side mouse button instead)
Drawing with a thick line on right side of screen draws over the GUI

Download the precompiled files, and the source code here.