I like how it allows me to use my own domain so that all emails come from an address people know they can trust, rather than say gmail or some other service where you don't have any idea who is sending them messages (esp if those are phishing attempts).
It's not as customizable for each user/group but still very useful overall - especially when dealing wih large groups! The fact we get tons more spam now since switching has been annoying at times because there isn;t much one could do about their system being hacked etc., which was never really considered before until recently.