A week ago, CompanionLink unveiled their plans to develop USB sync software for Android phones. CompanionLink now has more details about the solution.
The sync will be ready for launch within 90 days and will do two-way sync of Contacts, Calendar, Tasks, and Notes between PC and Android phone using the USB cable that ships with the device. No web-based solution like Google is required. No Wi-Fi or Internet connection is needed.
Contacts will sync to the built-in address book on the Android phone. CompanionLink plans to include a way to categorize contacts into groups.
Calendar will sync to a custom app that allows more search and list-view capabilities as compared to the built-in calendar on the Android phone.
Tasks and Notes will sync to custom apps on the Android phone that will allow categorization, sorting, and the ability to assign priorities.
Update 12/21/2009: This direct USB sync solution is now available here.