With this there would be at least a couple buttons to mash on the phone, something will almost certainly go wrong with it in the middle of the Big Sales Meeting (sods law), you have to fiddle with your phone instead of looking your new contact in the eye etc etc.
If you are the sort of person that enjoys meticulously tagging mp3 files and has to add every single person they meet to FaceTweetMyspaceLinkedBook then maybe this seems great, but to me this is a solution to a nonexistent problem, that just makes life more difficult.