Dev C++ is a free source IDE compiler and that is it. It is the interface in which you use to compile your games down to executable files. The fact that it is free is what attracts academic atmospheres to the compiler over Microsofts Visual C++. Really and truthfully aside from the odd set up quarks they are the same package in different decorations. Granted they each use different compilers but you can create the same game with minimal modificiation in each compiler.
Granted Dev C++ has its benefits such as freely adding packages and setting compiler options and in the newer versions it handles more code auto completing from self written libraries and imported lib. IMHO it takes less overhead to learn Dev C++ than it does to learn Visual C++ but do not forget Visual C++ also known as VissyC++ (which is what I refer to it as) integrates nicely with the Windows system but not so nicely with GLUT packages that allow you to wirte once and compile for many systems.
Pretty much it is shearly a matter of prefrence on which you use. For shear OpenGL or DirectX Game Dev I'd stick with Dev C++ until you learn what you are doing. Once you learn how to write the code there and the algorithms behind the game engines then you can easily move to any other IDE such as Visual C++ or C++ Builder for instance.
They are only means of getting to the same end result with different set up options and if you ever hope to aspire to be a great Game Dev you need to pull yourself away from being able to write in only one IDE and write in them all.