First, I noticed that you're still calling the product E12, and that it wasn't announced as part of Office 2007 last week. Does this mean it's not a part of Office anymore (again)?
Second, two things we also use public folders for here in addition to sharing messages with a workgroup:
1) Shared/generic e-mail addresses that we don't want to set up as a distribution list. It seems like creating a public folder has lower overhead than maintaining a separate user account for a generic mailbox.
2) Easy way to move e-mail messages between users when a user is retiring or taking a new position. Before they leave, they can move any e-mails they wish to pass along to a public folder, and the new employee can claim them and move them back to their inbox.