Hi Hi SOMAguy,
No. I have not heard of Backstop solutions before but ya interesting product if we have an Exchange server at disposal.
I went through the document you have sent and the only product I am familiar with to that details is CRM.
Here with Microsoft CRM there is no integration as such with Exchange. MS CRM itself takes care of storage contacts/emails/schedule etc.
Basically CRM doesn't need exchange to perform as a CRM. It can do perform all the activities you mentioned in the document on its own.
It comes with an Outlook client which in turn lets you use CRM features from within Outlook.
Also if it is just sending emails and maintaining contacts then MS CRM is an overkill for your requirements it is a complete CRM package with all the modules - Sales, Service and Marketing.
So I suggest you do some research on other products as well.
Regards,
Chinmay