As usual, I picked up the new MS Office Suite on the first day, and also invested in One Note, the new addition to the Microsoft Office Suite.
In One Note you can keep a list of projects very easily. You can do it freestyle, outline, etc. Then any item on the screen can be highlighted and sent to Outlook 2003 as a Task. So you could put all the steps you want to associate with a project in One Note, and when you are ready to have an action appear on your Outlook Task View, you would highlight it, touch a button on a tool bar and that text is moved in to an Outlook Task Form ready to be categorized.
BTW, Outlook 2003 comes (in most editions) with an add-in business contact manager that duplicates most of the functions of ACT!, and Outlook now will minimize to an icon in the System Tray where a click will instantly restore it to screen.
One Note comes with a utility called Side Note that runs in the system tray. One click brings up a notetaking window that will post to the full One Note file, and you can create an Outlook Task directly from the Side Note window if you wish. A right click on this icon quickly brings up the full One Note program. Nice!