I currently have a user who desperately needs to archive his email and there is no option on his Outlook currently to do so.
Have a look at the following technet article.
I had quite a few machines last year that got the bad update from M$ that nuked the archive feature. The 'repaired' it, however it overwrote the already installed update. In a few circumstances, I had to remove all the updates pertaining to the 'fix' before running windows update again.
Hope this helps.