Exchange 2007 SP1 + RODC's = No Go.
Another interesting tidbit that I picked up out of this month's TechNet magazine is from a story called Running Exchange with Windows Server 2008 by Paul Bowden. Paul writes:
"Unfortunately, Exchange Server 2007 SP1 can't make use of a read-only domain controller and requires access to a regular writeable partition of Active Directory."
This is interesting news (that I think I should have known anyway), but will definitely impact your use of RODC's once Server 2008 comes out. If you plan to use RODC's at remote sites but still need to support Exchange, be aware of this.
No link for this story just yet. TechNet usually waits about a month until they provide their print articles on-line.

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