On the Contact layout if there is no main address entered "company address will be used" is displayed.

When there is no contact address, the company address is used in the "contact as text" popup.
However in the various print layouts the address is blank.
And the vCard export address will also be blank (or list one of the "additional addresses" if one exists).

Is this a bug or something not wired/linked up?

Thanks

The only place this is wired up is on the invoice where the script "Get Addresses for Contact" determines if a contact or company address should be used.

For printing letters, etc. could modify the printing layouts to use merge variables from this script provided you called this script and were printing one contact at a time. To print more than one contact, or to include the company address in vCards you may want to create an address calc in the contact's record returning the company address if the main contact address is missing.

That is likely what we meant to do and just lost the thread somewhere along the line.