Coldfusion is not dead, but it isn't very popular. PHP is free so many coders can compete with the bigboys without much startup capital. Keep in mine that coding in coldfusion requires much less lines of code than any other language which can mean less mistakes and less development time. If some of these features are important to you then go with coldfusion.
Create printable web content.
Dynamically transform web content into high-quality printable, portable documents in PDF or FlashPaper™ 2 format using a single tag.
Generate structured business reports.
Easily design and generate high-quality, repeating group, structured business reports and populate them dynamically in the context of web applications.
Integrate with Adobe Flex™ 2.
Combine the rich user experience of Flex 2 and the productivity of ColdFusion MX 7 for the fastest, easiest way to create rich Internet applications.
Build rich forms.
Build accessible, high-quality forms in minutes using the new rich Adobe Flash® and XML form capabilities.
Develop new classes of applications.
Move beyond HTTP and create groundbreaking new interfaces to mobile phones using SMS text messaging, instant messaging using XMPP (the emerging IM standard), and other Internet protocols.
Achieve new levels of availability and scalability.
Easily create multiple server instances on a single machine for highly available, more secure, and performance-optimized applications.
Deploy on J2EE faster.
Package an application and the ColdFusion runtime into a single Java archive (EAR or WAR) for fast, easy deployment on leading J2EE servers.
Protect source code investments.
Compile CFM files into Java bytecode to distribute and execute without the visible source CFM files being present.
Search with new power.
Boost searching with the latest Verity technology, enabling highlighted search terms, searching within a results set, spelling suggestions, and hierarchical category searching.
Render rich charting.
Produce clean, crisp charts and graphs with over 200 modifiable attributes to control animation, colors, labels, and more. Include charts and graphs within dynamic business reports.