"As usual" is hard to define. 🙂
I have my iPhone 2.0 synced with Outlook, which in turn gets its info from an Exchange server. Once I connect Outlook to Exchange and update the info in Outlook, then the next time I sync my iPhone the data is put on the iPhone. Conversely, if I do something on my iPhone (change a contact, or create an email), when I sync it that action is applied to Outlook (contact is update, email is placed in Outbox). Then, when I connect Outlook to Exchange, the change is replicated there (email in outbox gets sent).