If you set an event in Outlook, you can put it in for 4:38 or 12:37 or whatever you want, and if you sync it then it will show up on the iPhone correctly.

But if you try to enter it into the iPhone, you get a wheel with five minute increments (4:30, 4:35, 4:40, etc.) and you cannot enter single minutes.

When you set an alarm you get a wheel with one minute increments.

Is there a tweak that replaces the wheel in the calendar with the one minute wheel?