If anything, I think this shows that the Live Communications Server team and the Exchange team were talking before they merged into the Unified Communications team.
This feature reminds me of the 'publishing' you do with LCS so that you don't have to individually configure each workstation to find the right server for your environment. It also replaces/suppliments the Free/Busy system from earlier versions of Exchange.
It isn't going to work out of the box so it will require some setup, but overall, it is a lot better than the previous methods you had to use with the custom installation wizard/etc. Publish the right information on your intranet site, and your Outlook 2007 clients will automagically configure themselves when given a little bit of information about the user account.
Excellent.
http://www.exchangeninjas.com/AvailabilityServiceFAQ