This Microsoft update has to be done manually and if you use Outlook 2007 it is worth considering it. I've used it for some days and it seems working fine. I appreciate every millisecond of performance enhancement for Outlook 2007 that is possible to get.
This update fixes a problem in which a calendar item that is marked as private is opened if it is found by using the Search Desktop feature. The update also fixes performance issues that occur when you work with items in a large .pst file or .ost file.