Support for iCal/vCal calendars

Support for being able to subscribe to an iCal/vCal calendar (by URL) would be very useful. Many services allow exporting in these formats, and some schedule software does as well. The calendar would have to be re-fetched at some interval (I don't think it's too important to keep that tight, probably hourly or daily would be enough for me). Entries with the same "unique ID" would have to be updated to incorporate calendar changes while not overwriting an user's own modifications (e.g. alarm bell settings for the entry). Note that this seems to be different from CalDAV. My personal use case is being able to see my school schedule in the built-in calendar without using Google Calendar. The university only offers a link to a vCal calendar and expects the client to re-fetch this link periodically—it doesn't offer the CalDAV protocol.