I don't think you are going to be able to use that old DM with the new Outlook. Upgrade to the newst version of DM (v. 5.0.1). When you install, you'll be promplted to choose a profile.
If you just use Outlook, with just one profile, I expect the only choice you'll see when DM prompts your for profile is Outlook.
See
http://blackberryfaq.com/index.php/I...00_for_syncing.