A free version to do this? No. (I hope I'm proven wrong.)
This is not a feature of the stock tool or even Outlook without Exchange and even then there are no "Easy Button" to get this done.
This falls into that category of gotta pay for such a thing.
Read http://digg.com/tech_news/Google_Calendar_Palm_Sync_-_Beta_Alpha_Testers_Needed and see if you can get onboard a beta to see if you can influence such a system.
We are thinking of buying 2 Palm TX's and need to share 1 calendar (both people creating new appointments). How can the sync to 1 computer/calendar be done? - or can it?
Is anyone familar with TheCalendarPlanner software by Reel Logix - does it work and can it sync to Palm?
Thanks for your help.