As you know the new Microsoft Exchange Online is the messaging component of the Business Productivity Online Suite (BPOS) from Microsoft Online Services. I found this interesting Webcast by Edward Wu, Senior Program Manager Lead, who talks about the new Exchange Online application, features and its capabilities. Also, we explore the application capabilities of Exchange Online, including steps for configuring and managing the service, such as adding custom domains, configuring for external relay, provisioning mailboxes, creating distribution lists, and adding contacts.
Also i found this white paper describes the services and features that are included with the Standard offering of Exchange Online. Download and read the Exchange Online Service Description