WP Contacts Manager is a new theme to make your WordPress into a full fledged contacts manager. You can add contacts through the regular admin interface, tag contacts, search them. Contacts Manager is not a standalone theme, it needs other plugins to work. The author has given a detailed tutorial on how to make the WordPress installation a contacts manager.
The author has also created a demo page for Contacts Manager to explain the features. The best way to use this theme is to create a sub domain on your blog and install WordPress with this theme to manage your contacts.
Wow , we are seeing some innovative themes lately. First the twitter one , then this.
@Madhur,
Indeed these are really innovative themes.