When a page links to itself (e.g. a calendar.asp page) and uses a query string to display content for the page, does the page depth increase until you hit the max depth during a walk?
Yes. The page depth is the number of "clicks" it would take to get to a given page by the shortest path. You can set a Max Depth around 15-20 to prevent crawling generated calendars that do not have bounds on them.