The requirement for a public folder database has been lowered from version 8.7.
From the Release Notes:
"Mailbox and calendar migration does not depend on public folders any more. However, public folders are still required for migration from Exchange 2003 to Exchange 2007/2010 and installing MSA and/or CSA directly on an Exchange 2003 server."
In other words public folders are only required when the following conditions are both met:
1. The migration involves migrating from Exchange 2003 to Exchange 2007 or 2010.
2. The MSA &/or CSA are to be installed directly on the Exchange 2003 server.
This restriction exists because the Exchange 2003 version of MAPI can not be upgraded to the latest version and the Exchange 2003 MAPI version does not have an API to connect to an Exchange Server without public folders.
The workaround for this problem is to use an agent host (formerly known as "alternate host" in the earlier versions) to install the agents in place of directly on the Exchange 2003 server.