For future reference, Think I just solved the issue.
@@Identity AS new_bid_ID had nothing to do with it.
When one exports Access tables to SQL Server, one needs to:
1) Re-Declare the key column, even though they were keys in Access, and
2) Modify each Key column - Column Properties/Table Designer/Intentity Specification/ set (Is Identity) to yes.
sakonnetweb - I noticed your queries are not using cfqueryparam. SQL Server is vulnerable to sql injection in ways that Access is not. Be sure to add cfqueryparam to all of your cfquery's as soon as possible.
<cfquery datasource="#Request.BaseDSN#" name="get_bid_ID">
SELECT @@Identity AS new_bid_ID
As an aside, now that you are running SQL Server you can take advantage ofto grab the new identity value ie #theResultName.IDENTITYCOL#