1) Is the traffic of both an AD server and a mail server on the same box going to cause excessive disk thrashing on the server? Dual raid arrays on the server can help minimize this, but you will need a box with 6 drives.
2) What is the long term expected use of email, and what is its importance? Many people say "I can live without if I have too," but then throw a huge tizzy the second you reboot the server.
3) Are licensing costs an issue?
4) Are their any regulations concerning security rating standards for the servers? (Applies more to govt then hospitals, but ya never know.)
Advantages to exchange, simple AD integration. Integration with Sharepoint etc. Pre-installed from Dell. relatively easy to manage.
Advantages to Qmail, Sendmail etc. More robust, better management of mail queus (native, not including expensive 3rd party options). rated for secure government use on a unix platform. Less down time from patches and updates.
Dont forget, there are commercial *nix mail servers out there with support. Exchange or a home built serevr are not the only options.