In the case of Outlook 2010 talking to Exchange, the "Sent Items" folder is an actual folder in that if you move a message out of that folder, it disappears from "Sent Items". In contrast the Lotus Notes behavior is that "Sent" is a logical view (like an Outlook Search Folder) so when you "move" items elsewhere they still show up in Sent, but really the one in Sent is a pointer to the one in the folder where you moved it. So in Notes the Sent folder is a listing of ALL sent emails (assuming the messages hasn't been deleted obviously), regardless of if the message has been moved.
How do I achieve the same effect in Outlook 2010 with Search Folders? I've tried this

and the result is not only do I not see some emails sent by me, but also I see emails that were originally sent by me AND the replies to those emails. I suspect that since the reply has a 'from me' in there (since I originally sent it), that it includes that email in the view.
I've also tried

with the same result.