Coldfusion is not a dead language.
Its used a lot in the corporate world and is a very powerful web programming language.
As ChristopherK said for basic database transactions , it can be easy to understand and quick to code but also can be a powerful language using corba, soap, flex and flash. Also as Coldfusion is Java based it can utilise the Java programming language which that in itself is very powerful.
I think coldfusion has a huge future ahead as its designed on an Enterprise architecture, which is scalable and future proof. It has a massive corporate company (adobe) developing and supporting it and the user base is huge.
Dont underestimate the power of Coldfusion, you may be suprised.