Hi Jason,
Welcome to the list. You'll find a wealth of valuable information here. I'd advise you to come back often.
I have to respectfully disagree with many of my collegues' answers to your question. I have been managing records using SharePoint for quit a while and, while I recognize that there are a number of limitations to the functionality SharePoint provides, I believe you can do it successfully.
You might want to check out my blog, http://sharepointrm.wordpress.com/, for more details.
Regards,
Don Lueders, CRM, CDIA
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