You can view and update a SharePoint calendar, just as you do your Outlook calendar.
You can view a calendar from a SharePoint site side-by-side with an Outlook calendar, view an overlay of the calendars as if they were one single calendar, and even copy events among the calendars.
When you connect a SharePoint calendar to Outlook 2007, it appears under Other Calendars with your calendar folders. You can connect multiple calendars at the same time, such as a team vacation calendar and a project schedule. Depending on your needs, you can choose which calendars you want to work with: a single calendar from a SharePoint site, multiple SharePoint calendars (if you have them), or Outlook calendars.