I bought a X5 with the latest PC2003 already installed.
This IS a known problem, having had much discussion with Dell and a promise of a fix they have sent me the solution -
A unit was sent to me yesterday with, wait for it, PC2002!!!
I am not happy.
Had too much trouble getting my buffalo wireless to work to start all over again with 2002.
I have found that a program called "stop time" works the alarm clock well but doesn't fix the other events problems.
Also have a look at
http://home.comcast.net/~jonsachs/.