The below are the solution I am sharing, and thanks to williamtm.
"The calendar on my iPhone (and on my computer, for that matter) gets very little use. I dont really do much to warrant using it much, other then a few reminders each week, birthdays, and Library Loans (which is added in by Delicious Library). So, overall, not much. However, I would like to be able to see more birthdays on my phone then the 5 or so that I had added myself, manually. So, how?
After a little bit of Googling, I came across a Facebook application called fbCal. Once you give the app permission, itll then present you with a simple screen with a number of choices. From here, you can subscribe to events, download a static copy, or even get an RSS feed. Useful! Getting everything set up is very easy too. To make it easy, you might want to do everything from your iPhone directly.
1) You might have problems actually getting to fbCal, so if you do, try one of the following options:
Go into Settings -> Safari on the iPhone, and clear both the cookies and cache.
Activate fbCal on your PC, then access it via the iPhone.
On either the iPhone or your PC, go to Facebook, and manually search for the application, then add it from the search results.
To clear the cache and so on for Safari on the iPhone, youll need to do this
2) Open Safari, and go to http://www.fbcal.com/create.php
3) This will redirect you to the login page on Facebook. Login with your email address and password, and, when prompted, allow fbCal offline access to your account. This is needed (I think) so that the app can update birthdays and events on your iPhone even when youre not logged into Facebook. Youll then be presented with fbCals main page.
4) On the fbCal page, set your timezone (which I presume is so that the events show up as the right time except it didnt actually work for me), then tap on the iCal icon under events. The iPhone should pop up an alert saying Subscribe to the calendar fbCal Events?. We want to do this, so tap on Subscribe. It should then pop up another alert saying it has been added, so tap Done. Now, do the same for the iCal button under birthdays on the fbCal page. You dont have to do both you can have only events, or only birthdays, its up to you.
5a) You should be all set! Go into the Calendar app on the iPhone to check, and you should see events and/or birthdays
5b)
versus the normal calendar, which has only a handful of events.
6) Finally, if you do change your mind and want to remove the two calendars, its simple. Go to Settings -> Mail, Contacts, Calendars -> and remove the two entries simply tap each one, and on the next page, hit the big red Delete Account button. Also, you can change the Fetch settings here you can set it to only check the server for new entries every 15, 30, or 60 minutes, or just manually, but bear in mind that changing this will also affect any IMAP and POP3 email accounts on the phone (such as Gmail IMAP).
And, thats it! Thisll also apply to other devices / operating systems too, such as Android, Windows Mobile, etc, and even Outlook, so check it out."