You say it yourself : Nokia has a habit of not following standards. Unfortunately this is also the case with the PC bluetooth adapters. Most of them don't work with the Nokia 7650.
Overall, the Ericsson T68i is a much more compatible phone. It also is fully compatible with bluetooth, be it data or voice transfer. The only problem is : it's not a Nokia. While this may sound stupid this is exactly what annoyed me about it. Not the design or so, but the software. Nothing was where I thought it would be (or at least where I thought it would be after four years of Nokia use), so after only one day of use I traded the T68i in for a Nokia 7650.

I don't know if this is all you need to sync with Outlook since I don't use Outlook. I know you can email from the phone, bit this is also an option I won't use in the immediate future since over here that would mean I would have to pay a substantial amount extra for that option. To me it's not worth it.

As for the iSync option : a quick google search told me what I feared : since the 7650 is nut fully bluetooth compatible it does not work with isync because it does not support Sync ML. You can read about it here and here. Apple themself advise to buy a T68i

For me the Nokia 7650 is still the better phone since I don't use it for data transfer. If this is something you do need to do with your phone, I would stay clear of the 7650. Of any Nokia phone for that matter. (except maybe the communicator)