This came out of the blue. We had an inkling that Microsoft would be working on a new version of Outlook for Windows Mobile (finally!) that would bring conversation view among some other goodies, and it’s available for your phone now.
It’s called Outlook Live, and beyond a visual overall that adds new icons, the new version of Pocket Outlook makes folder access more easy. We’ll have to drill into this further to come out with a list of full changes.