After uninstalling MS Office SP 2 KB2687455, my Outlook started just fine - guess that was it.
Thank you for the assistance I got from this forum, was a big mystery.
Also found the issue described here -...
This Calendar Folder Property Missing error first shows up in my event logs on 7-25-2013, and that is the same date as i installed KB2760631, KB982726, and KB2687455.
Beginning with that date, I have occasionally been unable to start Outlook 2010 - it hangs on the password screen...
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