I think not.
Google would have to give Apps away and beg people to forgive them for functionality that is missing before this stuff could begin to compare to Microsoft Exchange.
However, you can get some serious functionality for $50 per year per user. And, Google Apps reinvents collaboration, moving the target away from the Exchange paradigm with easy deployment.
Although Google Apps syncs with Outlook, much of the Exchange functionality, nuances that corporate Outlook / Exchange users depend upon, are not fully developed; for instance sharing and delegating access to your calendar.
If you’ve never used Exchange and seek additional mobile connectivity and enhanced employee collaboration, consider Google Apps very carefully. Compare and demonstrate functionalities with both Microsoft Exchange with a fully hosted application service provider and Google Apps and please, consider a professional to help deploy your collaborative messaging solution.