Conditional Formatting in is a neat feature that lets you create rules for your appointments, and formats them based on those rules. For example I have a rule:

If subject contains any of the words "interview; screen; informational; recruiting; recruit" then set the color to Orange.

Now all recruiting appointments stand out as orange on my calendar

Prior to Outlook 2010 I could just right-click on an appointment and set up these rules, but since I moved to Outlook 2010 I could not find where to this up. I finally found it, and since it is pretty buried I thought I would share it with you.

1. Go to Calendar (your calendar is displayed)
2. View Tab
3. Change View >> Manage Views
4. Select <current view setting> and click Modify
5. Click Conditional Formatting
6. Click Add to add a rule
7. Select the new rule and click Condition

Wasn't that easy?  The result looks like this