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JohnMcD348 ... To clarify on what others have said... If you're using Outlook without an Exchange account, then yeah, the advice above was right about having to migrate to something like a Windows Live Hotmail or Gmail account for contacts/mail/calendar sync. If you're using an Exchange account with Outlook, then you'll solely sync over the air to your Exchange server which replaces the need for cable-based sync unless you just want to sync music, videos, and pictures with the Zune software.
Also, I can relate about needing my phone to work, but I can also say that I'm running the Mango beta on it, and haven't experied any issues at all. If it's a concern to you though, you're right to not attempt the update until its officially released.