Sharepoint CMS functionality are contained in the Web Content Management (WCM) module (publishing template in MOSS), formerly existing as a separate product: Microsoft Content Management Server 2002 (MCMS).

Below a few posts about CMS functionality in Sharepoint 2007 - MOSS 2007 for Intranet, Extranet, Internet

http://www.cmswire.com/cms/web-cms/web-content-management-with-sharepoint-moss-2007-part-1-001994.php
http://www.andrewconnell.com/blog/articles/MossWcmResources.aspx
http://blogs.tamtam.nl/mart/MOSS2007WCMIssuesAccordingToOurCustomersNdashPartIII.aspx
http://blogs.msdn.com/arpans/archive/2006/08/02/686152.aspx
http://msdn.microsoft.com/en-us/office/bb251752.aspx

Web Content Management - CMS for an Intranet
http://www.slideshare.net/garethjmsaunders/sharepoint-intranet-cms