Outlook & PC Suite never swapped names around like that when I used my 7650 actively (currently I use a 6600).
Check, in Outlook, what your Contact Options are. I have the following settings:
Default "Full Name" order: First (Middle) Last
Default "File As" order: Last, First
Check for duplicate contacts: Checked
If it isn't enough, in PC Suite, remove the contact synchronization task and recreate it and resync.