iPhone does not support Exchange 2010/Exchange 2007 Coexistence
The iPhone does not properly support coexistence between Exchange 2010/Exchange 2007. See this TechNet Posting.
The error message in the IIS Log looks like this:
RdirTo:https%3a%2f%2flegacy.contoso.com%2fMicrosoft-Server-ActiveSync_LdapC2_LdapL15_Error:MisconfiguredDevice_Budget

Exchange 2010 Migration done » Lukas Beeler’s IT Blog » Blog Archive:
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14. November, 2009, 09:03Greg:
There is a workaround. If you remove the externalURL for ActiveSync, mobile devices will then work by proxy instead of redirection.
3. February, 2010, 16:20