What Features are missing from Rx that are in CEP Platforms such as NEsper or MS StreamInsight?
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CEP Platforms like StreamInsight are an enterprise-grade solution for processing lots of events at high volume and applying pattern-matching algorithms to said events.
There are a lot of domain-specific things applied to events in CEP Platforms, such as event classification (point event, interval event, edge event) that aren't first-class in Rx.
In short, it seems like you could conceivably build a CEP Platform using Rx, but it is not useful as a CEP Platform on its own. The analogy I would draw is Rx is to CEP as WCF is to nServiceBus. nServiceBus is a communication platform, but it has much more domain-specificity than WCF does (where domain is enterprise-grade messaging, in this case).

Anderson Imes
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What does 'enterprise-grade' mean? – Scott Weinstein Sep 09 '11 at 02:08
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@Scott Weinstein: A loaded term, I know. Generally I would say that "enterprise grade" concerns are generally those that can be flexible in other environments. Things like ACID, security, fault tolerance, for example. Usually I would also think an "enterprise grade" service has features that are geared toward solving very complex problems with very large datasets. That's generally how I define it anyway. If you think the term isn't specific enough, I can go into specifics if you think it would add to the answer. – Anderson Imes Sep 09 '11 at 18:58