Just attended a session. Seems like the new rev of RM supports 2007 fully. They also support Recoverpoint clones (or will, later this week).
For whoever is not aware of it, EMC Replication Manager is like a front-end that manages local replicas of your salient Exchange data for the purposes of backup and restore.
Can be fiddly to set up but if you have EMC gear and Exchange, you really should look at it.