If you do not want your Contacts to map on to the Right SOFT key on the home screen (when the clock in showing), then there is small hack that lets you map it to anything else you want.
Goto HKLM/Software/Microsoft/CHome and click on CClock. Note the SK2TEXT and SK2URL string value entries. Change the data value of SK2TEXT to whatever you want to appear in place of "Contacts" and change the data value of SK2URL to the path of the application you want to open when the right SOFT key is pressed.
For example, setting SK2TEXT = Task Manager and SK2URL=\windows\tasks.exe will show "Task Manager" in place of "Contacts" and will open it when the right SOFT key is pressed.
By the way, its a good customization to do because you often feel the need to open the Task Manager. Besides, the contacts can always be reached via the call button.