Here is a video that gives you a demonstration of what SCE 2007 can do for you. Based on cut down versions on OpsMgr 2007 and ConfigMgr 2007, you can audit hardware/software, deploy software/updates and monitor health and performance of hardware, operating systems, services and applications.
The intention is that you get a Windows integrated solution that gives 80% of the management you’d get in an enterprise network in one tidy package.
Interestingly, SCE includes a management pack for network device monitoring via SNMP. That’s not officially supported in OpsMgr. Why? SCE is intended for SME’s where there might be a handful of network devices. This management pack is only designed for that. However, if you use OpsMgr 2007 then you can probably take the SCE MP from the install media and import it. It probably won’t be supported by MS and I can’t say how well it’ll perform.