Accessing Address Book From Calendar

One of the distinct features I have noticed with iPhone's Graphical Interface is that it takes a zillion touch events to complete any given task such as adding a new contact, creating a new calendar event, etc.
Lets take creating a new calendar event directly on the iPhone. When I manually fill in an appointment...

Title: Meet Joe for Dinner
Location: 1234 Joe st, Joe City

Now the only way I can add the location currently is to Type the whole thing. I have that same address stored in the Contacts under Joe's name. It will be so easy if there was an option to pick the Address from Contacts. Something like...