I've been using a hosted exchange server environment (dslExtreme) for years. Originally, I used it w/ Outlook, but now that I have a Mac, I use Entourage. I also use my iPhone to connect to my ES account. I've been the only user and I don't have any plans to change that.
It has been something of a hassle to deal w/ the periodic upgrades of the vendor's server environment and the need to have my MX record pointed to a different vendor than my web-hosting company. Moreover, microsoft's client-based spam filter is fairly useless.
What sorts of features can I expect to lose/gain if I migrate from a hosted, exchange-server 2007 environment to the IMAP/SMTP environment of my web-host?