I'm a Zimbra admin. I use the payware version in my company, and I administer the open source version for the local high school. Actually, except for a couple of features that are available in the payware version only -- Outlook client integration and mobile access -- the two versions are exactly identical. I switched to Zimbra because I had been administering my own mail system, and I got tired of all the work it took to keep everything current. Zimbra does all that work for me, plus it has a pretty good Ajaxified web interface.
That being said, I would hate to have to get into that codebase and make any changes. It cobbles together parts from a lot of different tools, plus a web UI written in server-based Java, which I decided to abandon years ago. Everything about that system that's written in Java should be rewritten from scratch, IMHO, both for performance and for developer sanity. But as long as somebody else is maintaining it, hey, whatever.
Using outlook makes me want to vomit, but the closed-source parts of Zimbra are key for getting it into the enterprise, because without those parts, you can't really replace Outlook+Exchange for the people that are used to using it. Zimbra's connector is the first one I've seen that actually works.
I think probably what would happen, if MSFT+YHOO decides to pull the plug on the open source bits, is that some combination of Sun/IBM/Apple/Mozilla/Apache/etc would set something up to continue development on the fork, probably hiring some of the current Zimbra developer team.