Don't get mad if I cross post this to the Sharepoint group as it involves
both products but I am leaning to it being a Sharepoint thing and not
Outlook.

Anyway when you link a sharepoint Contact list to Outlook the "file as" does
not seem to be an option you can work with and Outlook defaults to the last
name/first name filing instead of the preferred (at least for us) company
name (lastname, first name).

Fix, hack, deal with it?