Mail for Exchange adds Tasks synchronization, but still no subfolders
Other new features include Global Address List (GAL) lookup support, ability to accept/decline meeting requests, support for the N76, ability of Search on E-series devices to search for content in emails synced to your phone and further integration with an upcoming release of QuickOffice.
For an even better Exchange syncing solution though, I still recommend you take a look at RoadSync for S60 as it supports email subfolders, Server Search, and all of the new features in Mail for Exchange and more.