3 letter ISO currency codes are relatively small, so there is little overhead in using them as the key for the reference table. Having certain items such as dates, GL codes and other analysis codes and currency codes directly on the tables is quite convenient for people reporting off the transactions and balances. Many accounting packages - even big players like Oracle Financials - do it for this reason.

There are two options

OPTION #1 : INSERT INTO ... ON DUPLICATE KEY UPDATE

INSERT INTO newtable
SELECT * FROM oldtable
ORDER BY tmstamp_value
ON DUPLICATE KEY UPDATE email=VALUES(email), address=VALUES(address) ... ;

OPTION #2 : REPLACE INTO

REPLACE INTO newtable
SELECT * FROM oldtable
ORDER BY tmstamp_value;

It mechanically performs a DELETE and an INSERT.

CAVEAT

Notice I applied the ORDER BY against the old table. This should help get the latest data for a give LastName, FirstName.

You should also add a UNIQUE INDEX on the new table as follows:

ALTER TABLE newtable ADD UNIQUE INDEX name_ndx (lastname,firstname);

UPDATE 2013-04-08 17:13 EDT

If you are doing updates, there are two ways to do this:

1. UPDATE JOIN

UPDATE
(SELECT lastname,firstname,phone,email
FROM oldtable ORDER BY lastname,firstname) A
LEFT JOIN newtable B USING (lastname,firstname)
SET B.phone=A.phone,B.email=A.email;

2. UPDATE JOIN with GROUP BY

UPDATE
(
    SELECT BB.id,BB.phone,BB.email FROM 
    (SELECT lastname,firstname,MAX(id) id FROM oldtable GROUP BY lastname,firstname) AA
    INNER JOIN oldtable BB USING (lastname,firstname)
) A INNER JOIN newtable B USING (id)
SET B.phone=A.phone,B.email=A.email;

Give it a Try !!!

Both options will take full advantage of the UNIQUE index on name.