Limited Integration
Moving content from one platform to another isn't as simple as merely moving data. You have to consider the differences between the platforms, such as the underlying storage mechanisms and security models) that make some features difficult or impossible to migrate.
A primary difference between SharePoint and Outlook is that SharePoint is a Web-based application; users access their content through a Web browser. With Outlook 2007, we'll likely see tighter integration between Outlook and SharePoint, so users will be able to access more information through the Outlook client. Today, you'll find limited integration between the two products. For example, you can access SharePoint event lists (i.e., calendar) in Microsoft Office Outlook 2003, but the information is read-only. To learn more about Office 2007, check out Microsoft's Office 2007 preview site (http://www.microsoft.com/office/preview).
In terms of collaboration capabilities, SharePoint is a terrific alternative to public folders, but it probably isn't a 100 percent fit for all the data that exists in your public folder system today. Users will enjoy the many benefits of SharePoint, which offers a true collaboration solution in which Microsoft continues to make large investments in the future.