I searched the forum for this problem and there can be no way I'm the first person to experience it, so I must be using the wrong search terms. Anyway, I hope this is not an FAQ
I did the following (it was a horrible mistake)
1. Did a sync and a backup
2. Copied files off internal storage to desktop
3. Upgraded ActiveSync
4. Upgraded x50v to WM5 (Nice job Dell and MS

- I love my mac)
The result.
No ActiveSync - when I drop the Axim in the cradle I get the noise, but no connection from ActiveSync, the little connection wizard does not find it. It all worked prior to WM5.
This makes it kind of hard to downgrade back to the prior version of WM
Is there a fix for this? I've tried reboots, hard resets, uninstall/reinstall of ActiveSync, looking in device manager, rediscovering hardware, etc.
I really don't care much about the data on the device, I pretty much only use it as a GPS, I just need to get it fixed. For reasons related to Dell Customer Service I won't detail here, I've started using another device for my day to day important stuff.