OK

With large table support enabled, which is the default for new
..PST files created in Outlook 2002 or manually upgraded to large table
support in Outlook 2000 or 2002, you can have on the order of 65,000 items
per folder and 65,000 folders per folder. Also, the size of the .PST file
cannot exceed 2GB, and when you go over 1GB you may start getting a lot of
errors (more as the file approaches the maximum). You may be able to use
that as a guideline for your question about using a separate database; if
you still need to know about performance issues, you may want to repost your
question with that as the focus. I don't have any personal experience with
such a large number of contacts.
--
Jocelyn Fiorello
MVP - Outlook
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