Coolness does not factor in choosing the technology for a new system. Yes if you are a student or want to play around you choose whatever you want.
But in the real world each technology has advantages and drawbacks. A year ago one of the teams started a new project, it was decided that it will be done in MFC.
The reason is very simple: they have to use windows api a lot for low level operations with the printer, internet explorer and god knows what else.
C# was not even in the game, the decision was made between MFC and QT, both had the needed functionality, both could easily integrate the low level functionality, the only difference was that some team members already had MFC experience, so they didn't have to waste time and money with trainings.
Let's suppose they choose C# and WPF:
-1 You have to wrap all native C++ and ASM code in a DLL (ouch this can be painful, instead of coding you write wrappers).
-1 You probably need two teams now, one for the ui one for the winapi stuff. It is very unlikely that you'll find a lot of people able to write both C# and winapi stuff. Agreed that either way you need someone to make the interface pretty (programmers usually suck at this and they cost more) but at least with C++ only code, there is no more wait time between two teams, need a ui modification, no problem I don't have to wait for the ui designer, he will make it pretty later.
+1 You can write the UI code in C# and WPF, let's say the UI development is faster, but the UI is only 1/4 of the project, so the total gain is probably very small.
-1 Performance degradation: for every small operation you can't do in C# you call a external DLL (this is a minor issue since the program runs on 8GB RAM Quad Cores).
So in conclusion: MFC is still used for new development because the requirements and the costs decide the technology for a project and it just so happens that MFC is the best in some cases.