We have 10 load balanced CF servers running multiple
instances on each and the only memory issues we have are with
legacy code that relies too much on the session scope.
What's the scope of your site? Inexpensive CF hosting can be
found, but if you need dedicated servers, hardware load balancing
and such, it'll be expensive regardless of your programming
language.
And FWIW, MySpace was originally built on CF 5 which was
based on C++. The biggest issue they had was the I/O to their SQL
Server pools. They moved to SQL Server 2005 and moved the CFML code
base to BlueDragon.NET. The communication between the .NET
framework and SQL Server 2005 is very optimized, so their I/O
problems went away.
So they're still writing parts of MySpace with ColdFusion
code (CFML), it's just compiled to .NET classes.
Since version 6, Adobe ColdFusion runs on Java.