By mistake I select the wrong contact when using setup to complete the Persoanl Information setting. I cannot see a way to either delete or re select the correct contact info......help!

If you are talking about the owner info that appears when the device is locked, then...

Open the device options screen (the icon may look like a wrench). Select Owner. Edit. Save.

By the way, you might want to add you ICE (In Case of Emergency) contact name and phone number here, too.

I have the same problem. In the main menu I pressed the setup icon. Then there is an icon called Personal Information. I selected icon and then it asked me to choose a contact that is me. I accidently chose the contact after mine in my contact list. Now whenever I go to the same Personal Information icon it always shows the information for the wrong contact and I can't change this to the correct contact. Is there any way to do this?

It's kind of stupid if you can't change this. Do I have to go into my contacts and basically add all my information to the wrong contact and then create a new contact for the person I'm oeverwriting with my info?