For those interested:
To sync Outlook 2003 Calendar to my iPod Touch I have found the following to be useful:
4 Team's Vsync Plugin (http://vsync.4team.biz/) - which supports Outlook Calendar importing / exporting in either vcard & iCal format
Importing into iCal is straight forward ---> double click on the exported ical calender .... as I use Outlook as my min work email client, I just disabled alarms for the imported Outlook Calender. Syncing through to the iPod Touch is straight forward 😊.