Specific server roles – install the components you need
Completely rewritten graphical management console in Exchange System Manager
Monad – scriptable, command line shell for routine and repetitive tasks to be automated.
Outlook automatic client detection and configuration
Unified messaging system delivering voice mail and faxes to the inbox
Scheduling Assistant to streamline meeting scheduling by visually presenting options for best times.
Built-in anti-spam protection using a multi-pronged approach to block unwanted messages.
Automatic updates for anti-spam filters without requiring administrator intervention.
Anti-virus extensibility allowing messages to be scanned in transport as well as in the mailbox store
Attachment filtering stopping inbound and outbound attachments based on file extension, file name or content type.
(I got this from the overview of Exchange from the web – if you need more details). I need to download it and have a play with it over the holidays – have a look at some of the new funky stuff in the product… watch this space..