This is a great news for the CF community. Railo has gone open source 2 days ago. And they have a brand new website www.getrailo.org . Railo is an open source CFML engine that is amazingly fast and supports all the existing CF frameworks/applications. For a complete list of compatibility, follow this link.
Its pretty easy to get started with Railo, just download a zip file, extract and start the server. Thats it! For a full list of downloads, go here. I have played around with it a little bit and it looks pretty promising. I hope to do some more Railo in the coming time, so expect a few more blog posts on Railo here.
And here is the official Railo documentation and thanks to Mike @Railo who has been kind enough to help me set up the Railo documentation on my CF docs site as well, which is located here.
I think this is the best time to be in the CFML world!