Does anyone have any experience retrofitting a vehicle for hands free calling and navigation?

I have a 99 GMC Sierra that (I am pretty sure) has sufficient space for an aftermarket receiver for a smart phone (iphone in particular) something like the Pioneer AVIC Z130BT pictured below.




I am interested particularly in:

1) Can it download smart phone contacts?

2) How well does it work?

Thx

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2011 X5 Xdrive50i Sport Package AD
2013 Touareg TDI
2012 Ford F250 Super Duty Powerstroke
1997 BMW M3 Sedan
1995 BMW 540i 6 Speed

Retired:
2008 Acura MDX (good car - yawn)
2002 M5 (I will miss this car forever)
1999 M3 (fun car X2)
1992 325IS DINAN (fun car)
1987 325IS (fun car)
1986 325IS (fun car)