Dual user Outlook

My wife and I share a home computer running Windows 2000/Office 2000 connected to the Web via a cable ISP. I would like to set up e-mail for both of us using Outlook 2000, but am interested in having separate phonebooks, calendars, etc. Currently,we both have Palm Pilots and need to individually synchronize them, as well.

Is this possibleand, if so, how? Or do I need to have one of us use Outlook 2000 and the other Outlook Express?