This is how I handle it, and I use it to capture and process hundreds of images per day using ColdFusion 8.
<cfhttp timeout="45" throwonerror="false" url="http://domain/image.jpg" method="get" useragent="Mozilla/5.0 (Windows; U; Windows NT 6.0; en-US; rv:1.8.1.12) Gecko/20080201 Firefox/2.0.0.12" getasbinary="yes" result="local.objGet" > <cfset local.objImage = ImageNew(local.objGet.FileContent)>
As soon as you have an image object, you can do whatever you want with it. Save it to disk, change its size, name it :). I obviously did not take into account all my error checks (200 status codes, this image, etc.), but this should help you get started.
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