Dynamics CRM Email Router Fails w/Exchange

I am getting error messages when attempting to setup the email router for MS Dynamics CRM. The problem is with the incoming settings. I am running Server 2008 R2 with Exchange 2010. I've tried to troubleshoot this issue on my own, but nothing I've tried seems to work.

Testing access results in either a timeout after a long period, or an immediate 440 (Login Timeout) error, depending on the server URL I try.

The settings I have for the incoming profile are as follows:

GENERAL TAB:
Profile Name: Incoming
Direction: Incoming
E-mail Server Type: Exchange
Authentication Type: Windows Authentication
Location: https://mail.domain.com (also tried without the https:)
Access Credentials: User Specified

ADVANCED TAB:
Network Port: 443 (I've also tried port 80)

I've setup my user account in Dynamics to use the e-mail router for both incoming and outgoing email, and I've entered my email credentials in the settings area. I've checked to ensure that the credentials are correct. I am able to login to OWA at https://mail.mydomain.com/owa.

I've modified the authentication settings in IIS7 as follows:
Default Site:
Anonymous Authentication: Enabled
ASP.NET Impersonation: Disabled
Basic Authentication: Enabled
Digest Authentication: Enabled
Forms Authentication: Disabled
Windows Authentication: Enabled

For the OWA virtial directory:
Anonymous Authentication: Disabled
ASP.NET Impersonation: Disabled
Basic Authentication: Enabled
Digest Authentication: Disabled
Forms Authentication: Disabled
Windows Authentication: Enabled

I would greatly appreciate any help.