Exporting a single event somewhat supported Rated 4 out of 5 stars
This add-on does indeed address VCS import, and as others note, that's important for interoperablility with platforms like Palm OS. However, VCS export only directly operates on the entire calendar. Nonetheless, I discovered a workaround:
1) Highlight the event in the "Events List" (Events and Tasks / Find Events)
2) Right click and "Copy"
3) Open up a Notepad window
4) Paste - the Notepad now contains the event in VCS format
5) Save As, with a .vcs extension.
At this point you can attach the .vcs file to an email, or drag and drop into the Palm Desktop