Desmond Lee,
Exchange 2007, either RTM or SP1, is supported in an environment in which Exchange is installed in an FQDN child domain of an SLD root domain.
The key is does your default EAP specify a hierarchical address or not. If your default EP does not specify a hierarchical address please see the “Autodiscover won't create profiles correctly without a hierarchical address” section of this blog.
As to “will this work without problems” please remember that Exchange 2007 and Exchange 2007 SP1 have not been fully tested in SLDs. The Exchange team investigated known issues and determined that there were sufficient workarounds to safely allow installation of SP1 to continue; however, there may be unknown issues that could arise from operating Exchange 2007 in an SLD environment.
Ed Beck