OK, the documentation says:
If you configure the folder containing FW/1 as a new web root and
browse to it, you’ll see an introductory application.
So I created a new site in Windows Vista and pointed it to the Framework 1 bundle.
I’ve installed CF10, and am able to navigate to http://localhost:8500/CFIDE/administrator/
so I know that’s working.
But when I navigate to http://localhost/, it gives me:
Error Summary
HTTP Error 500.0 - Internal Server Error
The page cannot be displayed because an internal server error has occurred.
Requested URL http://localhost:80/
Physical Path C:\inetpub\seancorfield-fw1-9e69741
And trying localhost:8500 goes to C:\ColdFusion10\cfusion\wwwroot

I wrote up a pretty detailed blog post here:
http://blog.bittersweetryan.com/2012/02/changing-webroot-of-coldfusion-zeus.html
It looks like you may not have updated your mapping to the WEB-INF and CFIDE folders.