Conceptual ideas for improved Contacts on phone

I have been thinking of ways to improve the contacts application. One idea I have is linking a few people with something I will call a "family contact". This would be slightly different from the current groups we have. An example would be to create a family contact where there would be a common home phone number (if that is still applicable these days =P), common home address, and other information that would usually be shared by a single household. Then you would add people who are part of that one family. This would make it easier to streamline this information instead of inputting the same thing over and over for each member of the family. We can also add features to this like pulling the whole family's facebook, twitter, and other updates into one neat "family contact".

What do yous think of this idea? If yous have another idea to add to my concept or a completely different concept for the contacts application then please do reply! =)

I'd rather have a Contacts application that allows me to search by Nickname, First Name, Last Name and Company. In that order. I swear a version of EastAsia 5.0 OS allowed me to search by nickname, but it's lost to me.