If I had a contact that I wanted to convert to an Opporutnity, I would have to retype it again in the Opportunity Layout. If I had a group(with or without it's contacts) that has now become an Opportunity, I would have to retype it. If I had a company with or without its contacts, I would have to retype it again. This is beyond silly. I am thinking that these types of field data transfers can be made similar to the way we can "Create Company from Contact".
Also, someone mentioned that it is impossible to make a letter that employs multiple fields from different contacts and/or different fields from the Company/Group/Contact list.. All these fields should be more integrated in order to transfer information and/or create letters/templates that have different information from different layouts.
More field integration is needed whether it's data transfer between layouts or it's field integration in a letter or report.