I'm having a similar problem, but not with Exchange. I'm trying to replace a Raptor Firewall with a PIX. As soon as I put the PIX in, Web browsing works ok, but incoming and outgoing Internet e-mail does not. (We are using GroupWise.) The errors on my Mail server show the server attempting to send out the message but then says "Host down at microsoft.com" or whatever site you are trying to send to. The Mail server does not even receive any incoming mail.
When you say that your ISP has an MX record for your outside address, do you mean the outside interface of your PIX or the outside address for your Mail server?
Meanwhile the problem has been solved. I don't know why it works now but it works. I have reentered the whole config on the PIX and it works. Befor this I used the clear xlate but didn't help.
Anyway there were not any error log on the Exchange server, simple the mails from outside couldn't get in through the PIX. From inside the mails could get through the PIX.
For the Exchange I can tell you that it does not work with smtp fixup - the Microsoft's recommendation tells that it should be disabled. If you enable it, the answer for a simple HELLO smtp command will be "500 5.3.3 Unrecognized command" that is ridiculous because the PIX' smtp fixup handles this basic command. Anyway if you enter the MAIL FROM command (telnetting the PIX outside port 25) tha answer is "Recognized command but say HELLO first" or something like that.
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