Microsoft recently announced the release of Exchange 2007 SP2. One of the key and long awaited features of SP2 is that it sets the foundation for the transition to Exchange Server 2010, which is expected to be available soon. Other features include:

• Enhanced Auditing
• Exchange Volume Snapshot Backup Functionality
• Dynamic Active Directory Schema Update and Validation
• Public Folder Quota Management
• Centralized Organizational Settings
• Named Properties cmdlets
• New User Interface for Managing Diagnostic Logging

For more  detailed information, see the release announcement on The Microsoft Exchange Team Blog. To download it, click here