The Coldfusion 8 CFIMAGE tag allows you to work with remote images simply by providing a URL to the desired Image, this makes grabbing images from places such a flickr (which I use as an online backup of most of my images) easily.
This works just fine, even for really large images of 1368x2048. You can also manipulate your remote image in various ways there is one thing, however, you should be aware of when working with remote images.
Small Gotcha
I managed create a runtime error when trying to read the EXIF or IPTC meta data from the remote image.
Exception occured in JPG processing. segment size would extend beyond file stream length
This only occurred on big images, I tried with a fewer smaller images and CF had not problems.
Happy Coding...