This already works if you give the users calendar rights and a link to the calendar page (since they can't get there through the admin page).

I guess the one drawback is they can edit all entries the way it is right now.

Yeah thats the limitations Chops wants to fix with this. Admins or those with rights get all the benefits of seeing and editing Guild Runs. The user calendar events are for those that want to run a 5 man and want to set something up cuz they don't want to pug it. They then get exclusive ownership of the event and no on can mess with it or delete things.