Cloning Contacts

I would like to be able to clone a Contact. Right now if someone refers me to another person or ropes another party in on the conversation, I have to create a whole new Contact from scratch and copy/paste shared data over from the original Contact record. Not very efficient.

This is a very important feature; most CRM have it.
This would help adding contacts from the same organization, when only the name and email have to be changed.