I am assuming that you are using IIS for the Web server. You may move the folder virtually any where you want, but don't forget to change the Default Web Site path in IIS. Set the physical path from %SystemDrive%\inetpub\wwwroot to %SystemDrive%\ColdFusion10\cfusion\wwwroot.
To determine whether you are using IIS for the Web server, simply create an HTML page, test.htm under \inetpub\wwwroot folder; and test it by going to http://localhost:8500/test.htm. If you can see the page, then you are running IIS as the Web server. Otherwise, you might be using the built-in Web server that comes with ColdFusion. In that case, the wwwroot folder is not in inetpub, but somewhere under ColdFusion folder, I believed. I've never used built-in CF Web server.
