It is possible to access most, but not all, features when using WebDAV to access MS Exchange. All features, on the other hand, is available when using Brutus or MAPI.
Well.. to be honest, only the client relevant features of MAPI has been implemented in Brutus, but those missing (which are mainly for service providers) can be implemented easily, should a requirement surface.
Hard documentation from Microsoft is impossible, or at least very hard, to find. I have asked around and tried to dig up as much information as possible. The following are features of MS Exchange that are impossible or extremely hard to implement using Exchange WebDAV, but possible or much easier with Brutus:
There are probably more features that are difficult or impossible to access in Exchange WebDAV, but the above entries are at least some indication of the difference of Brutus versus Exchange WebDAV.