Scott Schnoll recorded this quite lengthy (over 21 minutes) demonstration where he talks about the Local Continuous Replication feature in Exchange 2007 and gives a demonstration on how this feature works in current builds of Exchange 2007.
Seeing that the resolution of this video is quite high and there are user interface details that you might want to see, it might be better to download the video locally and then play it.
You can see the video here:
Hope you like it!
– The Exchange Team