I have just recovered the Public folders database off our first Exchange 2007 RTM Version.
The new server is Exchange Server Version SP1.
I recovered the database by creating a new public folder database on the new server, and used outlook to copy data out of the public folders into a personal folder. I then recreated the database structure and moved the data back.
User in outlook can see all the public folders and use the data stored in them.
New email enabled public folders can’t receive internal or external emails. Mailbox user can receive internal and external emails without any problems