Thanks to Ari for this nugget ;-)
The following events are visible:Event Source: Service Control ManagerEvent Category: NoneEvent ID: 7000Description:The Microsoft Exchange Monitoring service failed to start due to the following error: The service did not respond to the start or control request in a timely fashion.
Event Type: ErrorEvent Source: Service Control ManagerEvent Category: NoneEvent ID: 7009Description:Timeout (30000 milliseconds) waiting for the Microsoft Exchange Monitoring service to connect.
Reference: Exchange 2007 managed code services do not start after you install an update rollup for Exchange 2007 (KB944752)
RESOLUTION To resolve this problem, verify that the computer can reach the following Microsoft Web site to download the CRL: http://crl.microsoft.com/pki/crl/products/CSPCA.crl Configure server to uses a proxy server for HTTP and for HTTPS, you must configure the proxy server so that HTTP-enabled CRL validation works. Additionally, make sure that the proxy settings are configured correctly for the Exchange Server services to access the Internet.The simplest way to configure WinHTTP is to use ProxyCfg.exe. ProxyCfg.exe is a command-line tool that is included in the %System32% directory on all Windows Server 2003-based computers. You can use ProxyCfg.exe to set WinHTTP configurations and to view WinHTTP configurations. For more information about how to use the Proxycfg.exe tool to modify WinHTTP proxy settings, click the following article number to view the article in the Microsoft Knowledge Base: 936707
FIX: A .NET Framework 2.0 managed application that has an Authenticode signature takes longer than usual to start Microsoft Knowledge Base article 841641 describes how to configure a specific proxy setting if you are running services as a noninteractive account. For more information, click the following article number to view the article in the Microsoft Knowledge Base: 841641 IIS returns a "403.13 Client Certificate Revoked" error message after you install MS04-011 because of Wininet proxy settings.
Tutorial: SAN storage for Microsoft Exchange Server How to access SharePoint sites through Microsoft