From what I've read in several newsgroups and MSDN newsgroups, this inability to synch seems to be a common problem, unfortunately. Some people have reported complete success, others no success, while still others had only partial items synching, and the problem is not isolated to Axims.
A few folks have claimed some restored functionality by uninstalling and reinstalling Activesync 4.2, but maybe you've done this already.
You *might* want to give the beta activesync a try, if you're feeling adverturous/desperate and if you've only got a paperweight:
http://www.microsoft.com/windowsmobi...ivesync45.mspx