I searched and the exchange remote wipe thing seems like it is, indeed, a premium feature. Search around, there was a lot of info out there.

the mail thing is gmail. you can use regular gmail via their exchange server also. So you can play with it via the free gmail to see if it works for you. folders are labels, so it should work, but I stopped archiving mail that way a long time ago, especially with gmail, which makes it very easy to search for and find and display email threads.

-David