Hi Kevin,
I tried the same scenario in my env using QWP 5.7 SP2010 and Outlook 2010 and it worked well for me. The SP items displayed correctly in my Outlook calendar, I was able to edit the event and see the changes in the qCalendarView web part.
Version 5.2 is quite an old version (6 versions behind the most recent version released) and I'd suggest you tu upgrade to 5.7 to benefit of the many features/improvements we've added and to support you better.