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FindAFax.com lets you filter fax services by features, including Microsoft Integration. It doesn't specify MS Exchange integration, but I would bet that companies that integrate with MS Office are more likely to integrate with Exchange Servers than those that don't. Here is the URL for the part of the site where you can filter the services (homepage is just basic comparisons): www.findafax.com/internetfaxservices
There are several third party fax server solutions that will send faxes to your inbox. They may have an easier to manage GUI, since Microsoft's Exchange Management Shell is kind of a bone they threw to mail administrators with Unix experience. I've used both RightFax and GFI Fax and they're more comprehensive than Microsoft's built-in solution.
There are some benefits to keeping your peanut butter out of my chocolate - I'm sorry, keeping your Exchange Server free of faxing (and fax issues). Most notably, graphics from hundreds of undeleted faxes can take a lot of space. So if you decide to bring faxes into Exchange, monitor your storage usage carefully. The last thing you want to do is to bring down your Exchange server because you ran out of space for the EDB files.
That's kind of a trick question. Microsoft Exchange 2007 has unified messaging support, so it can support faxing and inbox fax retrieval. You'll need to change settings for Exchange using the Exchange Management Shell (the command line-type interface). More hints are here: