First the things I like:
Things I didn't like:
34999 USD, this is roughly comparable with a 2 server SharePoint setup with 400 client access licenses (CALs). (For more details about pricing check out http://www.coveo.com/en/enterprise-search/buy.shtml
I actually tested it for searching a site created with MS CMS and I think it did a pretty decent job, ... however I don't know if it actually handles all the logic contained within MS CMS (security, workflow,...). At first it seemed that it had problems crawling the resource gallery of MS CMS but once I directed it through a crawlpage that we created for MondoSearch it managed to crawl the resource galleries as well. I guess that if you want actually use the product in one of your own CMS projects you will have to do a thorough evaluation and compare it with other alternatives such as SharePoint and MondoSearch.