Currently in 2011, we can create groups from either contacts or opportunities, but not from companies. Many times I simply want a list of companies with a total count displayed that match a certain criteria identified by a company field, along with some identifying data for the group itself.
To create this currently, I have to setup a new contact field linked to a matching company field, then setup the group defining criteria to the contact. That's a lot of fields setup under "contacts" that are unnecessary and redundant just to accomplish this simple task.
The disappointment is the fact that when the group is displayed, I have to sort by company, then manually count the number of companies (ignoring the contact name data) that matched the group criteria.
Of course, I could do a simple db lookup, but then I don't have the group fields displayed that help me to define that group, like group HQ, the group's address, annual/quarterly meeting dates, etc.