I work with SharePoint sites quite a lot and leverage technologies new to Office 2007 such as SharePoint Lists synchronized in Outlook 2007. Essentially Outlook 2007 allows you to have offline synchronized copies held in a local .PST file that you can work on, on a plane/train, at home, etc. When you get back on the LAN or have VPN access you can re-synch. HTTPS (Outlook Anywhere) support is available without the need for a VPN, but most corporations turn this off to stop data roaming, or being spied on, say, in a hotel or coffee shop. OWA also supports this feature (i.e., HTTPS tunnelling through to SharePoint 2007 sites), but again it can be turned off.
Outlook 2007 simply acts as the data store and makes sure changes are passed through to SharePoint 2007 and vice-versa. You have to open and close the document and not update the Server Copy to get the additional SharePoint functionality to percolate through—a tad frustrating as I would at least like to see these options grayed out and an explanation as to why they are unavailable. After the document has been edited via Outlook and you click the Do Not Update the Server copy, you can click the Office button to reveal a new Server tab. Now you should see the additional SharePoint functionality come through.
-- Rob Atkinson