You're not missing anything.
The PlayBook will not sync to Outlook-stored calendar and contacts. There are work arounds, somewhat complicated, if you are interested, post back.
1. If any post helps you please click the 
2. Please resolve your thread by marking the post "Solution?" which solved it for you!
3. Install free BlackBerry Protect today for backups of contacts and data.
In the link below, read posts #1 and #8.
#1 should do it, but could vary according to your email server.
http://forums.crackberry.com/blackberry-playbook-f
1. If any post helps you please click the
2. Please resolve your thread by marking the post "Solution?" which solved it for you!
3. Install free BlackBerry Protect today for backups of contacts and data.
