One of the killer features of Office 365 is Lync (along with SharePoint) simply because it provides features that many businesses have never experienced including presence, chat and web conferencing. Lync is the successor to Live Meeting that came with BPOS (the previous incarnation of Microsoft Online Services).
Interestingly, it turns out that although with Live Meeting you can record meetings that feature has been disabled from Lync in Office 365. According to http://support.microsoft.com/kb/2433212:
At the release of Office 365, recording options will be disabled in the Microsoft Lync 2010 client for legal and privacy reasons. Because certain countries and nationalities require permission from all parties to record instant messaging (IM), audio, and video conversations, the Lync Online engineering team decided to remove this feature until a future update is released to address this. Recording options will be re-enabled after the update is released and deployed to Lync Online.
So the powerful ability of Lync to record all conversation through it has been disabled pending an update. I can understand the reasoning for this but I gotta say that being able to record meetings was one of the real selling points of Live Meeting in BPOS and not having it available in the Office 365 upgrade kind of puts a dent in that when speaking to prospects.
Like I said, I understand why it has been removed but I’d like to know how long it will be before that ability is restored. Another issue to add the list of things I hope they fix during the next update to Office 365.