Ahhhh - Man, that sucks. What a disappointment that would be. I can't stand how much Macromedia tries to push Cold fusion - Imagine what it would be like if MS owned Macromedia - First I'd feel bad for anyone out their that took the time to learn Cold Fusion (ha ha), second your right mise well start learning ASP, and buy a NT/2000 server, and buy a MS SQL datbase, and buy a subscription to .net, and buy a, and buy a ..... well you get the point.
What are the alternatives,
Adobe GoLive - might be reasonable if they really start working at it.
Ming - might be fun to see who can design the best site with Ming alone, with code instead of a user interface.

?
Right now it's like Macromedia owns the Flash equivalent of HTML - that doesn't really seem right does it? Now if Microsoft was to own Macromedia it would be like Microsoft owning HTML. Ahh that's a weird concept.
Will Flash only be allowed to run on MS Servers - will they disable it if it's run on Unix - Sounds like a crazy concept but you can't run asp on a Unix/Apache server (which makes up 70% of all servers world wide).