I've been a graphics software customer of both Adobe and Macromedia for a long time (in Adobe's case, over a decade). Fontographer -originally distributed by Altsys and then acquired by Macromedia- has languished since the summer of 1996. I have an older PC I keep alive just to keep this application running. FOG 4.1.5 glitches out on newer WinXP systems with more than 512MB of RAM.
Anyway, I still like FOG and prefer it in a number of aspects to FontLab. I think it would be great if Adobe could give this once-great but now comatose application some attention. Obviously, Fontographer lacks OpenType TT and OpenTypePS capability. There are a number of other productivity improvements (auto-glyph importing, etc.) I would like to see as well.
FontLab has lots of modern features, such as the ability to create OTFs. Still, I don't like how that program "feels" in its operation. It's a bit on the clunky side. Ultimately, any font designer is going to want smooth interoperability with Illustrator or have the app work much like Illustrator or Freehand. FOG does a lot of that. It's just a 9 year old program badly in need of an update.
I would figure as important as type is to Adobe's business, perhaps Fontographer might be a title they may have more justification to update. I don't think Macromedia gave a hoot about it.
For most of us at Adobe, it's business as usual until the merger/acquisition is final. Tempting though it might seem, we aren't giving a lot of thought to these possibilities until the deal is closed, which is months away. Until then, none of us will be in a position to comment on this sort of thing.