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*  Depending on scope of scenario, use Exchange PF's or SharePoint
** Depending on the scope of the application use Exchange Web Services and/or SharePoint

Tratto da:

Microsoft SharePoint Products and Technologies Team Blog : Updated Exchange Public Folder (vs. SharePoint) Guidance:
http://blogs.msdn.com/sharepoint/archive/2008/04/01/updated-exchange-public-folder-vs-sharepoint-guidance.aspx

Al link appena citato è possibile trovare un'interessante comparazione/valutazione delle due tecnologie.

Colgo l'occasione per segnalare il Microsoft SharePoint Products and Technologies Team Blog ufficiale :

Microsoft SharePoint Products and Technologies Team Blog:
http://blogs.msdn.com/sharepoint/default.aspx