I have written an article(that should be up soon) for the Adobe Dev Connection site about CFEclipse and the CF8 Components for Eclipse.
My research into these programs has led me to one conclusion...CFEclipse is great stuff. By itself, you can build Coldfusion applications. Add the CF8 Components and you can use RDS tools that allow for query building and more. I was especially intrigued by the AJAX and FLEX wizards that are built off of Coldfusion. I know some folks don't like wizards, but the fact that you can get an open source application (Eclipse) and load it up with CFEclipse and the CF8 Components to build awesome turnkey Flex and AJAX applications with a few button clicks ...for free - is really impressive.
To get Eclipse: http://www.eclipse.org/downloads/
To get CFEclipse: http://www.cfeclipse.org
To get CF8 Components for Eclipse: http://www.adobe.com/support/coldfusion/downloads.html