Will Exchange 2007 have any built in archiving feature? Will I be able to move all mail older than a specific date out of the main mail store into an archive with a feature built into 2007 or will I need a 3rd party software solution?

I have this same question. According to my MS reps they are saying that 2007 will have archiving capabilities that will archive the older mail into something other than a pst file. That would be wonderful but I haven't actually "seen" anything on it yet. Anyone else heard anything on this topic?

I am working on testing this now. trying to used managed folders to archive messages to Sharepoint I have some of it working but still have a little more testing to do

No, Exchange 2007 has no such features. To actually move mail out and in to an alternate store, you really need a 3rd party software package. I suspect you could do some fancy things with the messaging records management stuff and archive data yourself to something like a Sharepoint server, but would really be a kludgy solution and would mostly likely not meet any of your requirements.