I saw the category "Contacts", is this addresses for your contacts in your phone book? My phone didn't update this, but I don't believe my phone is able to store addresses. Is there a way to link a contact POI to an actual contact, or is this section just there as a template for you to add your own POI's to?

You add your own for frequently mapped addresses. This also is contained in the manual, so maybe taking a read through it one night would be a good idea.