Swap first and last name fields in a contact record When contacts/address book was imported from a previous phone most of the entries came in with the last name in the first name field, and first name in the last name field.  

Is there a quick key method to swap those two fields without having to retype both of them or cut/paste one and type the other?
Not really. You could change the sort order and display order of the contacts in Settings > Mail, Contacts, Calendars under the Contacts section to give the appearance that the contacts are in that right order, though.