With the official release of Microsoft Exchange 2010 (http://www.microsoft.com/exchange/2010/en/us/default.aspx), as promised Microsoft have released an update to the Outlook Mobile client for Windows Mobile 6.1, which will provide similar functionality (when used with an Exchange 2010 server) to devices running Windows Mobile 6.5
New features include:
I have blogged about the SMS integration capabilities of Exchange 2010 previously - http://blog.brightpointuk.co.uk/synchronising-sms-messages-between-windo...
The Outlook Mobile client weights in at around 2.7MB, a 'lite' setup downloader application is available for download HERE
Installing this application will add an icon the Programs Folder on the device, linking to the full download:

This update can be downloaded via your PC's network connection if the device is connected via ActiveSync, but the update can ONLY be run on devices that have already connected via Exchange ActiveSync to an Exchange 2010 server once already. Similarly, if you try to install the update on devices that are connected to earlier versions of Exchange, you will receive an error:

Once installed, you will know you are running the newer version of the Outlook Mobile client as a new 'About' tab will be added to the Tools --> Options area within the Messaging application:
Before:

After:

You will be prompted to re-synchronise all folders with the Exchange Server again:

Once complete, you will now have the option to enabling Text Message synchronisation within the ActiveSync Server configuration options.
The Inbox application itself will provide conversation view and message search features:

Messages are indicate with their "reply state"

and contacts' calendar can be viewed (the level of information you see will depend on the sharing level specified by the target user):

For more information on the new features available in Exchange 2010, view this article - http://blog.brightpointuk.co.uk/exchange-2010-features