As I've mentioned in previous posts...
SharePoint is a large product with lots of functionality across six main areas (Portal, ECM, Search, BI, Collaboration and Business Process and forms). As with all the big Vendors in the ECM space, most are strong in some areas and weak in others. SharePoint is by far the strongest in the Collaboration space, but is definately the weakest in Records Management space.
Andrew Chapman has a good go and slating SharePoint RM. Andrew makes some great points around the fact that the Records Center is not a centralised repository and that SharePoint allows multiple repositories to be created. I think anyone who is going to take RM seriously with SharePoint would most likely keep one repository, but simply have various Libraries for each defined Policy/Content Type. I do not agree with what Andrew is saying with regards to it leading to disperate repositories as this is all done by Central Administration which hopefully, not too many people will have access to!
I'm following this space with great interest. Afterall, once a partner or Microsoft themselves takes this platform seriously and Records Management seriously, it won't be long before a solid solution is available.
Compliance
Interestingly, I was talking to a colleague at work on Friday who is a fellow Solution Architect in the Security, Storage & Virtualisation space. We were talking about how much overlap there is in our two areas with regards to compliance.
CommVault has a very significant product in the archiving space around SharePoint. I will very soon be writing a few posts about how this product can help an Enterprise who are using SharePoint.