Could be speedier
I got this to create and rename groups, and move contacts to different groups. It does the moves just fine, but new groups you make are not integrated into the iPhone system. For example, they do not show up as names in settings--contacts and so to use as a group destination sending a photo you have to enter the group name and hit the plus. You cannot just pick it from the list. Moving contacts is the only really slick use. Nice, probably worth 99 cents, but only a modest improvement.
Kmnewiphoner about
Speed Names - Contacts, v2.81