Do you want to use Outlook 2003 with Exchange Online?
In response to customer feedback, the Microsoft Online Services engineering team is developing the Outlook 2003 Connector. This is an Outlook add-in that will enable customers to use Microsoft Office Outlook 2003 to access all the features of Exchange Online. This includes free/busy information when setting up meetings, and the ability to access your organization’s global address list (GAL) from Outlook when you're offline. The add-in is currently in private beta testing with selected MVPs, Partners, and customers, and we’re ready to broaden the audience.
UPDATE: As of December 2009, the Microsoft Exchange Online Connector for Office Outlook 2003 is now released. You can download this connector from the Microsoft Download Center at http://www.microsoft.com/downloads/details.aspx?displaylang=en&FamilyID=604a539a-5ec1-4fb2-a3cf-60076aa17618.
The Microsoft Online Services Team