Looks like a fairly straight forward answer to an old problem common to individual users with a desktop and laptop, or home and work desktops and a laptop. With a server environment, network based folders set up for offline access can take care of much of this.
I've been using an app from
http://www.scootersoftware.com/ called Beyond Compare for something similar, but it is a bit more effort to set up it seems. Once set up, it's a one click thing though.
Shame MS didn't think to include syncing Outlook installations between a desktop and a portable device (laptop/tablet). I use my PPC to take care of that synchronization, but am hampered by the two partner limit on the PPC. Guess no one at MS has a desktop at work and at home and a laptop. :? Either that or they all just rely on Exchange to keep everything in one place, and they don't use notes or tasks or files.