After having four different customers have near total loss (90% plus) of their Exchange data I caution all of you against its use. The features are great, but the price is too high. Having to explain to people that despite having several backups, the top tier support from Microsoft, and a secondary server available for immediate recovery that they are going to lose all but a tiny sliver of their data is just not a business solution. I'd take the blame myself if it weren't for the fact that I had Microsoft making sure I did every step by the book. In their own words they remained surprised every time it happened. The four setups were using these versions:
Exchange 5.5, 2000, 2003, and 2007
Each customer employed a different backup system, each authorized for use with Exchange ranging from Tapes and RAID 5 arrays, Microsoft Backup, to HP's Backup Suite for Exchange. In each case the backup system produced a reliable backup of the data and the Exchange recovery process failed to recover the majority of the information.