Microsoft has released a patch for a feature that was introduced in Windows Mobile 6.1. From the download page:
This behavior is associated with a feature that is introduced in Windows Mobile 6.1. The feature allows for mobile operators to specify an alternate SMTP server name that is used if e-mail messages cannot be sent by using the user-specified SMTP server name. If the mobile operator does not specify an alternate SMTP server name and if the Windows Mobile 6.1-based device does not connect, the e-mail account is corrupted and cannot send e-mail messages.