Yep... note that (as noted elsewhere) all these wizbang new messaging features other then the new keyboard shortcuts only work with exchange, and only with exchange 2007.
Internet sharing is the same in AKU 3.5 and WM6. And Windows Live is just the same app in ROM. Voice Command is still an addon.
That leaves Mobile Update (which sounds useful) and Marketplace (whee! more ads!)
Booya.
Summary - if you use exchange email, and your IT dept. upgrades to exchange 2007, you'll get a handful of features that should have been there 5 years ago. And you'll get mobile update.
This is not, as they say, the iPhone killer release