Public Folders will continue to be supported in the next major release of Exchange Server, after Exchange 2007.  The phrase that Public Folders are being “de-emphasized” from previous guidance blog posts, is discussed.  Also, there is a list of scenarios and suggested deployment guidance for each storage scenario.

Review the blog entry about this at http://blogs.msdn.com/sharepoint/archive/2008/04/01/updated-exchange-public-folder-vs-sharepoint-guidance.aspx