We're running Exchange 2007 which comes packed in our SBS 2008 bundle. At this point, it seems like I need to go directly to the MS update site in order to download update for Exchange. Is there a way to receive automatic updates, similar to the way we receive updates for the core SBS 2008?
SnapOverflow
Exchange 2007 Updates are supported by WSUS, which is all ready installed on SBS 2008, you will just need to configure it to do so.
That said, be sure you want to have Exchange update itself from WSUS, many Exchange patches require restarting Exchange services and will have brief downtime for users.
Do you have Windows Server Update Service (WSUS) installed? Exchange 2007 has been supported for a quite a while: http://technet.microsoft.com/en-ca/wsus/default.aspx