There are several bugs or limitations with Outlook 2003 and Exchange 2010. If you try to open more than two calendars you receive errors. There is also a hard limit of 16 additional calendars (Reception) which you may have to keep an eye on.
Office Outlook 2003 does not connect to two or more additional mailboxes in a mixed Exchange Server 2007 and Exchange Server 2010 environment. http://support.microsoft.com/kb/978777/en-us
1) If you have Exchange 2010 SP1 then try following:
$a = Get-ThrottlingPolicy | where-object {$_.IsDefault -eq $true}
$a | Set-ThrottlingPolicy -RCAMaxConcurrency 100
Screenshot shows the maximum value. Do not set to maximum to prevtn handys and "Virus" in worst case to open as many connections as the OS is limited to.

Restart the Service itself to make sure the new settings apply:

2) Also on the XP Office 2003 client which DID run before on 2000/2003 and other Exchange run:
Check for Event 26 on the client:
Die Verbindung mit dem Microsoft Exchange Server wurde getrennt. Outlook wird die Verbindung so bald wie möglich wiederherstellen.
Weitere Informationen über die Hilfe- und Supportdienste erhalten Sie unter http://go.microsoft.com/fwlink/events.asp.
"C:\Program Files (x86)\Microsoft Office\Office14\Outlook.exe" /resetnavpane
3) Check also for Events 4696 and if so:
If you know a certain user account that you have the problem because he reports it than also check the Exchange Stats:
get-Logonstatistics -Idnetity USERNAME | fl applicationID
Then count the "Client=MSExchangePPC which may not be over 16! If you have a full slot (16 connections) the change the hard coded limit of 16.
Here is an exmaple with 11 connections:

"Mapi session "00cc3dde-64d7-4353-8050-00fc2057aae3: /O=xxxx/OU=xxxx/cn=Recipients/cn=customer.ch" exceeded the maximum of 32 objects of type "session"."
http://technet.microsoft.com/en-us/library/ff477612.aspx
You need to use:
See also:
http://social.technet.microsoft.com/wiki/contents/articles/1586.concern-is-having-outlook-2003-clients-going-to-prevent-me-from-deploying-exchange-2010.asp
Concern: Is Having Outlook 2003 Clients Going to Prevent Me from Deploying Exchange 2010?
An these two hotfixes:
http://support.microsoft.com/kb/2212002/
Description of the Outlook 2003 hotfix package (Outlook.msp): July 1, 2010
Meeting Text Wrong
http://support.microsoft.com/kb/2510153/en-us
Description of the Office Outlook 2003 hotfix package (Olkintl.msp, Engmui.msp): March 9, 2011
The connection to the Microsoft Exchange Server is unavailable. Outlook must be online or connected to complete this action.