It could be that the error is due to not having reverse DNS configured for your new server. If that is the case, there may be several mail servers that will not respond to request or reject them altogether. It is common with providers like Comcast, AOL, etc.
In this case, if you didn't have reverse DNS set up (or getting any other error similar for that matter), Exchange 2007 is designed to give you an ambiguous response that "appears" to be coming from your internal server. Which would likely make you believe that there is something wrong with the connector or an internal bug with Exchange.
Try running a telnet session from your new Exchange 2007 server to the email domain that you are getting the error from and see if you get the same response from the server on their end? I'm betting to guess that you probably do and even though the error is coming from their server, Exchange 2007 notifies you of the error and it makes it appear like it's coming from your internal server. (Don't ask me why MS decided to do that...).
We ran into the same situation and I was just trying everything under the sun to figure it out. I tried this simple test and surprisingly I got the error response from the external mail server. In any case, I set up reverse DNS for my new server (even though I only needed it for a short period during transition) and everything seemed to work beautifully.
Hope that helps...
jphifer