The Collaborative International Dictionary of English v.0.48:

Dream \Dream\, v. i. [imp. & p. p. Dreamed (dr[=e]md) or
   Dreamt (dr[e^]mt); p. pr. & vb. n. Dreaming.] [Cf. AS.
   dr[=e]man, dr[=y]man, to rejoice. See Dream, n.]
   1. To have ideas or images in the mind while in the state of
      sleep; to experience sleeping visions; -- often with of;
      as, to dream of a battle, or of an absent friend.
      [1913 Webster]

   2. To let the mind run on in idle revery or vagary; to
      anticipate vaguely as a coming and happy reality; to have
      a visionary notion or idea; to imagine.
      [1913 Webster]

            Here may we sit and dream
            Over the heavenly theme.              --Keble.
      [1913 Webster]

            They dream on in a constant course of reading, but
            not digesting.                        --Locke.
      [1913 Webster]

WordNet (r) 3.0 (2006):

dreamed
    adj 1: conceived of or imagined or hoped for; "his dreamed
           symphony that would take the world of music by storm"