I bet you haven't seen much info about the features in Exchange Server 2007 SP1 beta yet. But here you go! The very first public article covering the new Public Folder Management console included in Exchange 2007 SP1.
Managing Public Folders with Exchange Server 2007 Service Pack 1 Beta
In this article we will take an early look at the new Public Folder Management console, which is included in the new Exchange Server 2007 Service Pack 1 Beta, which was recently released to TechNet Plus and MSDN subscribers. Currently there are no plans about making this early beta version available to the general public, so your organization needs to have either a TechNet Plus or MSDN subscription in order to obtain a copy.