I am running the released version of Outlook 2007 and when I am not
connected to Exchange and pop email, the email does not show up in any
folder. I can find the email if I search in All Mail Items, and in
the search view it says the mail is in MyFolders/Inbox, but it does
not show up. In addition, if I move the email from the search results
view to a different folder under MyFolders, it doesn't show up in that
folder either even though the search view indicates that the email is
now in that folder. As soon as I connect to Exchange, it shows up.
It seems like Outlook is trying to do something with Exchange before
it shows the email in a folder.