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I think Actionstatic handles this very well... I mean, I don't want to carry around my complete projects with me when I am on the road, I just need to have a list with what I am supposed to be doing.

Create one calendar for each project. That calendar carries todos. Next action gets highest priority and so forth.

The todo's get synced with iCal and neatly organized into categories in the todo application.

And I don't even think it's palm-only, as long as the device has a todo part with categories this will work.