Microsoft promised to deliver Exchange Server 2007 Service Pack (SP) 1 in the fourth quarter of 2007. It looks like the company is going to make good on its word, with the first SP looking like it will hit this week.
The most eagerly awaited new feature that will be part of Exchange Server 2007 SP1 is standby continuous replication, which enables administrators to replicate an Exchange Server to another location for disaster-recovery purposes. (Thanks to Winbeta.org for that SearchWinIT link.) One of Microsoft's TechNet bloggers has a comprehensive list of other Exchange Server 2007 SP1 features. Microsoft released to manufacturing Exchange Server 2007 in December 2007.
If I were a betting woman, I'd say it's likely that Microsoft will take the wraps off Exchange Server 2007 SP1 during TechEd IT Forum in Barcelona this week. Maybe we'll hear more this week, too about Office 2007 SP1, as well. An astute reader noted that Microsoft recently posted some new Office 2007 SP1 content to its Support Center. (I asked Microsoft for a timeframe when it plans to release Office 2007 SP1 but got back a no comment.)
Update: It looks like the Softies are talking about Office 2007 SP1 at TechEd IT Forum this week. ActiveWin is reporting that Office 2007 SP1 is slated for Q1 2008 and will be feature-compatible with Windows Server 2008.