This is the easiest way I found that lets you emulate the Olympus remote control RM-1 using an old PocketPC:
download the trial of "RemoteControl II" at http://www.wincesoft.de/html/remotecontrol_ii.html
download the RM-1 theme here http://rs216.rapidshare.com/files/50733665/Olympus_Cam.zip (found here)
- install everything on the pda. Thats all.
Info: If you don't already have a pda running PocketPC/Windows Mobile it's usually cheaper to buy an RM-1 clone on ebay.