Circa 2006, I was developing a new website for Liberating Students Digitally using WordPress and we needed an events page. So, I figured I'd just create a Google calendar and there would be a WordPress plugin to display stuff from it. There was, Wooglecal, but it relies on Google's RSS feed, which means they don't have much control over the content and formatting of the events.
Then I made this website and posted my plugin at wp-plugins.net. As it turned out, other people were looking for a plugin like this as well. I also copied some of the code out of my plugin and made a standalone version for my website and the UACS website. Turns out people wanted this as well. So, I modularized the code and now there are three things you can download: the engine, the plugin or the standalone script.
Note: I don't use this code anymore. It might not work with WordPress, and it might have a horrible security hole. No guarantees.
There is a similar, but better maintained, plugin here.
Formerly GPLed. Now under the MIT License.
Wordpress version: Unzip the plugin into your plugins directory. Activate it in the Site Admin. Put [iCal:URL] into a post or page (where URL is the URL to your iCal file) and your events should magically appear in that post/page
Standalone version: Replace "Your URL Here" in the code with the URL to your iCal file. Style as you see fit.
Engine: The code is (sort of) commented.
Latest version: 0.31
Donations are appreciated.