This handy little page on the MS website, has steps to subscribe to a google calendar from within Outlook.
Transfer calendars between Outlook and Google Calendar – Outlook – Microsoft Office Online
I’m happy with this out of the box solution as opposed to the popular Remote Calendars option that doesn’t work with 07 straight out of the box.
Given I don’t use Google calendar that much thanks to my PDA, I still think its great to have a seperate repository and the means to keep themn in sync is most welcome.