Matt wrote:

This will not work since I want to have my emails delivered to the
inbox in my personal folders file and I would like to have the
calendar on the exchange server.

The delivery location MUST be the Exchange mailbox if you want that calendar
to be the default and other should be able to see your free/busy data. Why
do you want the mail in a PST? If you absolutely can't be persuaded to use
the Exchange mailbox for mail, then you can set up a rule to move all
incoming messages to a PST.
--
Brian Tillman