I’m getting a 404 even though the page exists on disk.
I’ve ran the Web Server Configuration Tool and rebooted several times.
Handler mapping for .cfm files (configuration tool seems to have worked):
C:\ColdFusion10\config\wsconfig\1\isapi_redirect.dll
Virtual Paths:
root/index.cfm <- works
root/dan.cfm <- doesn’t work
Server:
Windows 2008 R2, IIS 7.5 and Coldfusion 10
Rest of my configuration:

Update 1
NTFS Security Information on /wsconfig/1 folder:

Answer – TLDR
Map a virtual directory named “jakarta” to CFUSION INSTALL\config\wsconfig{instance id}
No need to add APPPool permissions to folder…
Right click on the website and add a mapped virtual directory named “jakarta” to C:\Coldfusion10\config\wsconfig{instance id} (in my case, it was \1 )