I've got an Sony Ericsson Xperia X10 and while viewing a contact, I just press the menu button, Send Business Card and choose between Bluetooth, Gmail, SMS or Moxier Mail (Exchange Client I think).
I've send contacts back and forth between my Android phone and my Palm phone. I don't have two Android phones, but I don't see why it wouldn't work.
Previously I was using 1.6 which was fully compatible with all my contacts on my old Palm phone, but since upgrading to 2.1 this does not work as well as I had hoped.
So, no software to install, works right out of the box for me.