Executing a ColdFusion template results in HTTP 1.0 Error 403 Access Forbidden or Execute Permission Denied.
More common on MS Personal Web Server and MS IIS.
ColdFusion templates must reside in a directory with execute permission. WebSite and Netscape servers allow the execution of API applications automatically. When using Microsoft IIS or Personal Web Server, you can set read and/or execute permission on every directory mapped through the Web server administrator.
In the "Directories" tab of the MS administrators, you can highlight a given mapping and select "Properties." At the very bottom of the dialog are two checkboxes, read and execute. If the mapped directory contains CF templates, be sure that execute is checked. Be sure to stop and start the Web server after making the change to ensure that it takes.