Have you done a
yum update
Reconfigure & Reboot 
 Yes; I forgot to mention that.
> smeserver-spamassassin-features-0.0.2-0.noarch.rpm
What is that rpm for and where did you get it from ? 
This rpm from Michael Weinberger is "an RPM that enables site-wide Bayesian Filter, enables blacklist testing and intodruces spamassassin properties BayesAutoLearnThresholdSpam and BayesAutoLearnThresholdNonspam".  For more info, see  
Spam Filtersmtpd=service
    Authentication=disabled
    DenyHosts=58.246.197.21
    Instances=25
    InstancesPerIP=5
    MaximumDateOffset=0
    PatternsScan=disabled
    Proxy=disabled
    TCPPort=25
    TCPProxyPort=25
    VirusScan=enabled
    access=public
    status=enabled
    tnef2mime=enabledI've changed "Instances" from 40 to 25  which seems to work fine - as long as things are working OK I haven't had over 9 concurrent connections.  I tried "Instances=80", but that totally killed me!
qpsmtpd=service
    Bcc=disabled
    BccUser=maillog
    DNSBL=enabled
    LogLevel=8
    MaxScannerSize=25000000
    RBLList=sbl-xbl.spamhaus.org,whois.rfc-ignorant.org,dnsbl.njabl.org,relays.ordb.org
    RHSBL=enabled
    RequireResolvableFromHost=yes
    SBLList=dsn.rfc-ignorant.org
    access=public
    status=enabledRay: Why do you recommend disabling RHSBL checks?
piran: I agree that it is likely that disabling SA would solve my problem...but what is the effect on the amount of SPAM delivered to end-users?  The email is passed to an internal Exchange server that is running AVG Antivirus for Exchange as well as [oxymoron]Microsoft Intelligent[/oxymoron] Message Filtering, so my users might not get hit too hard...
If Ray ("up it to 1Gb if you can") and piran ("what about CPU horsepower") are correct, should the SME 7 minimum hardware requirements (400MHz CPU, 128MB RAM) be changed?  (OK, I'll answer this one myself: The 
SME 7 Manual says, speaking of the 
Minimum Hardware Requirements Note that we do not believe such a system will provide satisfactory performance for features such as webmail, remote access via PPTP, Virus and Spam Scanners, which are cpu intensive will not perform well on this platform.  It's amazing what you learn if you read the text instead of just glancing at the pictures and charts!).