sort of. there are programs out there that gives you a short cut for contacts but a much better program is called sprindial, no sure what source its under, but by far the best programme i have installed yet. it creates shortcuts for your favourite people with photo as a icon on your springboard, click and dial straight away!
There should be an app on the installer called poof. Install it then run it and click on the hidden button at the top of the screen. There should be a hidden app for contacts. move it over to the unhidden side and you'll have a icon on your home page to go to your contacts.
Sources are - as the name implies - sources or repositories for iPhone apps. Some are considered more highly trusted and are part of the default Community Sources pool that you should have installed already. ModMyiFone is included within Community Sources.
Springdial should also be there for you to install with just the default Community Sources.
Jailbroken means you have used one of the various methods available to 'jailbreak' your iPhone, which is the process of opening it up for access to its full file system, which enables you to install 3rd party applications on the iPhone.
You would most likely know if you had been through this process, and if you have (through most of the most common methods) you should see an icon for Installer on your home screen.
And if you're not jailbroken, then there is not a way that I know of to get a Contacts shortcut on the desktop ...
No, my iPhone not jailbroken. You can tell by my questions that I am not particularly tech savvy and I am basically a big chicken when it comes to making changes that could render my iPhone inoperable (this probably comes from being one of the people who paid full price on day one against the advice of just about everyone who said to wait for the price to drop...but that is another can of worms)
However...I do think I can set the home button double click feature for my contacts
In the current 2.0 beta the contacts icon is on the home screen by default (it's always been there just hidden). Apple will probably keep that so you'll have the functionality you are looking for in June if you don't want to JB your phone.