I'm currently using Evolution for my mail client on 12.04 (and no, I don't want to use Thunderbird), but the version available in the repos (3.2) has a couple of bugs (more precisely, its version of EWS has the bugs) that are fixed in later versions.
Is there a PPA available for at least 3.3? While I have no issue compiling from source, I'd rather use a PPA if it's available, but unfortunately, my own searching didn't turn up anything.
Edit Thanks to JXPheonix for finding a PPA. I added it and found that
apt-get upgrade didn't want to just update Evolution and had several of the Gnome 3.4 packages held back. Installing Evolution specifically with
apt-get install evolution worked great, though.
(Since Ubuntu was pretty adamant about not updating Evolution, I decided to see what I could find as to why, beyond the generic "stability reasons" that was given for everything they held back. According to this article, it seems it's just because 3.4 wasn't as well-tested as 3.2 as of Precise's release.)
For those using EWS, you will need to update evolution-ews, of course. I found this script useful for building and installing EWS. It's originally written for 3.2, but a simple change to the script to point to the correct download location (simply change the "3-2" in the Git repo clone call to "3-4") allows it to install with no problems. After updating EWS, my Exchange account is back up, complete with the global address book and Exchange calendar!