It's easy, but not en-mass. I know how to do it one calendar at a
time.
1. Create the new calendar in SharePoint.
2. Connect it to your Outlook 2007
3. In Outlook 2007, navigate to the public folder in question, and
in Outlook's calendar views, switch to the "By Category" one.
4. Select ALL
5. Drag all of those items over to your connected new SharePoint
calendar.