This is a great idea and a fantastic tool to add to your list. I’m sure most developers use livedocs as a reference (I do all the time) but historically the are SO slow (not to mention that I think Adobe needs to invest in a little SEO as I often get CF6 livedocs at the top of Google results!).
The CF8 online docs were given a much needed face lift but still are a little slow and the initial page always reloads into a frameset.
While we do have tools like cfquickdocs which are great, having everything as a local resource on your file system makes life a lot easier :)
Now I just need to wait until Adobe releases AIR for Linux so I can use this at work :(