I experience this same problem. The solution that I was given, thanks to JeremyV is:
First, make sure that HotSync Manager is running. To start it, go to Start/All Programs/Palm Desktop/HotSync Manager.
Once you have HotSync manager running, if you still don’t have any luck try this:
1. open Windows Task Manager by pressing Ctrl-Alt-Delete,
2. In the Processes tab, look for a couple of programs that may be conflicting with COM1. They will have your name or your computer name as the user name — NOT “System”. The processes that I end that seem to do the trick are SERVIC~1.EXE and HKCMD.EXE. Click on these processes and then click on the “End Process” button.
[This message has been edited by kbraband (edited 04-17-2004).]