[Brian]

Welcome to the forums, Aigeanta! Actions are exported to iCal, but no, projects are not themselves treated as actions. I think this is the first request we've gotten for exporting them to iCal alongside the actions, but now that you mention it, I can see how that might be handy...

If you email the support ninjas, they can open a new feature request on this. Other folks that would like to see this added should also email the ninjas and ask to be added to the request. One of the metrics we use when planning our work is the number of folks asking for a given change; items with more requests attached tend to get higher priority.