That's how it works for me. I'm able to do everything that I was previously able to do when I had EMM host my exchange and BES together. With SoloSync, I have all the functionality of email, without the folder redirection, I have all of the functionality of the calendar feature, as well as having my contacts wirelessly sync with my device from outlook.

With regards to your email, for me at least, the only folders that show up are deleted items, inbox and sent items. The sent items folder is only poppulated with the messages that you send from your device, not from all messages sent from account.

Hope this helps.