I had actually planned on doing a write up of how to do this. Here's how I do it:
-Sign up for an account on Google Calendars
-Sign up for an account at
www.nuevasync.com and add your google calendar info
-Add nuevasync as your exchange server (Activesync)
-In Google Calendars, set up as many calendars as you need (notr, nuevasynce's free account is limited to 10 calendars)
-Enjoy seeing multiple calendars in poutlook
Cons:
-Cant use this solution if you already synce to an exchange server
-When adding events to your calendar from poutlook, events will only be added to your primary calendar (ie you cant add to a secondary calendar from poutlook)
-I havent found a way to differentiate the different calendar events in poutlook
This may or may not be what you're looking for (and might even be available straight from google sync) but if definitely works for me.