I last saw this funcitonality in ACT! ver. 6. Whenever you went from confirming an event to scheduling a follow-up, and you'd change the basic selection (from Call to Meeting, or vice versa as an example) all of the other choices changed accordingly, i.e. if you were changing from Call to Meeting, the Priority automatically changed from Med. to High, and the various selections for the Regarding area switched to those affiliated w/Meetings rather than staying stuck on the selections for Call, etc.
It was just more efficient & productive when you didn't have to go through & change ea. field.
Also, whenever I select a Ring-Alarm choice, I always have to check it twice as my 1st selection never "takes" & the "Regarding" window always opens up immediately afterwords until I again select a choice in "Ring-Alarm" Irritating.