When I saw this in the "what's new" document for 2010 I thought 'wow' at last we can put proper standard threads on a shaft and have a proper automatic thread callout (with full thread specs) in a drawing just like I could 5 years ago in Inventor.  Well, I tried it and I cannot get it to work at all.  For a start it appears that you still have to type in the callout in the part document when you insert a cosmetic thread.  Further, you cannot apply a standard thread because if you do, no callout is allowed - the callout box is greyed-out for all standards (only 'none' is allowed).  In the resultant drawing, I can find no mention of a thread callout (the help file says that it is in the shortcut menu).  I suppose this is because there is no callout details in the part.

I have always thought this to be a big hole in SW capabilities.  I would be delighted if I have got this all wrong.