Exchange 2007: Local Continuous Replication
One of the two new "log shipping" features in Exchange 2007 is called Local Continuous Replication. In my blogcast at https://msexchangeteam.com/archive/2006/05/24/427788.aspx, you can see this feature in action. Note that the video is high resolution and runs just over 21 minutes, so I recommend that you use the download link and play it locally on your PC in full screen.
Enjoy!