I sync Outlook 2007 calendar, contacts, notes and tasks using Companion Link and DejaOffice (I think they are actually the same company). It recognizes Outlook categories and for business use it works better than native Android apps.
Sync calendar and contacts on Android, iPhone, iPad, BlackBerry - CompanionLink
DejaOffice - Contacts, Calendar, Tasks and Notes Apps for Android, iPhone, and iPad
Companion Link is $40, DejaOffice is free. There is 30 day free trial. It's not perfect. It feels like a working beta; in fact updates are released almost weekly. But it's probably the least crappy solution for Outlook sync.
Companion Link is the sync interface on the PC. It has lots of settings to control syncing, much more than HTC Sync. DejaOffice is a suite of proprietary Android apps for calendar, contacts, notes and tasks. Outlook syncs directly with DejaOffice. The DejaOffice apps work pretty well. In general they are as good as, if not better than native Android apps. For example: in DejaContacts you can search for keywords in different fields like notes or company name. You can also sort by first name or last name or company name. DejaCalendar doesn't screw up all the recurring Outlook calendar events like Android Calendar does. There are shortcomings however. There are no widgets available yet (although this is a promised update at some future date).
The way DejaOffice works is that it creates it's own proprietary database on the SD card. Companion Link first syncs Outlook calendar, contacts, notes and tasks to this database. In the second step, DejaOffice syncs the proprietary data to the native Android contact data (or this can be manually disabled). The DInc phone dialer and caller ID work off the native Android contact data so if you want everything to match up to Outlook it should be in sync. This is not mandatory if you don't care about the phone dialer and caller ID in sync with Outlook. For instance you can have the phone set up to sync with Google Contacts online. It's actually possible to maintain several entirely separate sets of calendar and contacts data using a combination of DejaOffice, phone only memory, and Google online calendar and contacts.
Just be warned that the initial installation and setup can be glitchy and it will take some tweaking and several syncs and re-syncs before you get everything working exactly has you want. The good thing is that tech support is pretty responsive and the updates fix any problems that crop up. If you have a lot of Outlook contacts, I think there is a limit