SharePoint 2010 and Excel - List Validation Supprot

In SharePoint 2007 you could create calculated columns with Excel type formulas. For example, if you had the Division Name in one column and Department Name in another, than you could created a calculated column:

=[Division Name]&[Department Name]  to get a concatenated column / key.

In SharePoint 2010 (SP2010) you can do the same to achieve validation on a list's columns as well as on the list itself.