Email enabling SharePoint Lists is a great feature to introduce into the Enterprise. If I had a dollar for everytime I emphasised the importance to centralise information I'd be a rich man. This would obviously help to replace storing it in personal silos such as personal inboxes, my documents and file shares. In doing so this means that the Enterprise has more control over back ups and archiving of this information as well as it being accessible to all users of the Enterprise.
This is the whole Document and Records Management story. It also overlaps a lot with Email Archiving and Customer Relationship Management (CRM) in terms of possibilities to cc the SharePoint Customer Team Site Document List when you communicate on a project to capture the communications.
This will dramatically reduce issues in trying to find emails which hold information locked in pst files and also file the emails in the appropriate standard location, rather than in the way the person who sent the email sees fit.
The Problem
I stumbled across an article on configuring SharePoint Lists to be email enabled. It points to a paper written by Steve Smith. There is also a Technet article on this too.
As a quick note from the instructions to set up, if you are using Exchange the Default SMTP Virtual server setup will not show up in IIS Manager. To get to it you need to use Exchange | System Manager from Start | All Programs | Microsoft Exchange.
Looking into this I found that although the SMTP server was there I got this error when trying to configure the Incoming E-Mail Settings.

I just found from Michael Gannotti that Exchange and SMTP server cannot coexist on the same box! Nice, so my demo VM is now going to have to consist of two virtual servers to get this to work. It mentions it'll be fixed in RTM but clearly it wasn't! It appears the SMTP service is started, so not sure why it doesn't find it.
Anyone have the answer to this one? I guess for now I'll have to uninstall Exchange and install the IIS SMTP Virtual Server to get this working!