This was on the original Droid.
WHEN I used touchdown It required a bit of tweaking to get everything.
I think by default it only pulled down 1k address and 50kb message size and only sync'd 3 days worth of mail and no sub folders can't recall the calendar options as I didn't use the calendar for more then simple reminders.
After tweaking it I was happy enough to recommend it to co-works and customers.
I agree the Android OS has come along some in the exchange world but it is no BB or WinMO exchange crusader. Even the iPhone is pretty slick in the exchange world.