Ok, so technically the answer is yes, it works out of the box. However, that doesn't mean you will automatically get emails pushed to you. You also need a service provider that pushes emails. Examples of those being MobileMe and Yahoo.
I don't think so. However, I wouldn't necessarily say you need an exchange server, either. If you are really wanting it pushed to your phone you could have it forward to something like a yahoo account that would then get pushed to your phone.