The Droid DOES indeed support OWA. I just set mine up through my company. I am the Network Administrator, so I know what I am talking about (not just saying this to be a fan boi.)
The cool thing is that it does push email, calendar, and contacts through the OWA connection - the iPhones in our company only gets push email through OWA. So that is another great thing Droid has over the iPhone.
To answer another question someone asked, the DOMAIN is a one word name (usually the company name, but check with your admins.) The EXCHANGE SERVER is the 'mail.mycompany.com' address.
I will try to answer any other questions that I can regarding the Exchange compatability.
thank for for this response.
My account actually set up without any domain listed...so it was just "\myloginid". However, while this gave me the menu to determine how much to sync, etc., the sync is failing with an exclamation mark in the upper left hand corner.
Adding mycompany in front of it for the domain results in a login error (user id or password are incorrect).
Any suggestions?