Once again, Jim's come through with an excellent article - I remember reading that one some time back.
But to answer your question in shorthand, you're right - if you have a solution of simple pure water and calcium and carbonate/bicarbonate, and at neutral pH, just about all of the calcium and alkalinity will precipitate out of solution (presuming they're in equal molar ratios). The only remaining Ca & HCO3-/CO3-- will be the concentration that equates to the solubility of calcium carbonate at that temperature and pH, which is exceedingly low (about 13 milligrams per liter at 25 deg C). This, by the way, is Le Chatelier's principal at work - because the reaction product of the calcium ion and carbonate ion is largely insoluble, the precipitation of the compound continues to drive the reaction of more calcium and carbonate to form more calcium carbonate - until such point as the rate of calcium carbonate dissolution in water equals the precipitation rate of calcium carbonate, and the reaction stops.
Randy has described why this doesn't happen in saltwater in various articles; essentially, magnesium "poisons" the surface of growing calcium carbonate crystals, providing an energy barrier to further reaction of calcium and carbonate to form more calcium carbonate. In addition, organics, especially the ones that act as chelating agents, "bind up" the calcium, preventing its reaction with carbonate and subsequent precipitation.
On one level, calcium and alkalinity in seawater is fairly simple - just look up what the saturation value is for your particular temperature and pH, and there you have it. But when you start diving into the reasons for why seawater has the saturation levels of calcium and alkalinity that it does, especially in the context of the actual ocean, things get complex (and to us chemistry geeks, interesting) very quickly.