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What are the advantages and disadvantages of upgrading from MS Exchange 2003 to 2007?

From experience what are the advantages and disadvantages of upgrading from MS Exchange  2003 to 2007?
What additional features that Exchange 2007 have over 2003?
What problems are corrected in Exchange 2007?
What are the differences in performance?
3 Solutions
Something to keep in mind: 2007 requires 64bit processors, that's why I'm still on 2003
disadvantage I can think of are probably cost and training requirements.

Advantages see http://www.microsoft.com/exchange/2007/evaluation/topreasons.mspx

Manpreet SIngh KhatraSolutions Architect, Project LeadCommented:
With 2007 you will have something like no Performance issues.
With 2007 you can more High Availability features (LCR,CCR,SCC and SCR)
CatalogData (Indexing)
MRM .... OAB is better
Mailflow and Roles divided
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