- Native ExMerge is no longer supported in Exchange Server 2007, but it gives you the ability to search mailboxes for parameters including to/from and message keywords or attachment filenames. There are limitations around search complexity and there is no search in attachments or in public folders. It does allow exporting to .PST files or production mailboxes.
- Exchange 2007 Export-Mailbox cmdlet supports a search within Exchange 2007 mailboxes, and includes searches within attachments (assuming that the correct iFilters are installed). The limitations include lack of public folder support and there is, currently, no export to .PST files.
- Third-party tools such as Kroll OnTrack PowerControls or Quest Recovery Manager for Exchange (disclaimer: I work for Quest) support searches within Exchange databases (e.g., .EDB files, including public folders) and .PST files. You can also export to .PST files or production mailboxes.
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