Okweb, thank you for this information and your out-of-the-box thinking - I may have to take an approach similar to what you described.
Praveenkv, the error message I received is pasted below.  It's too bad I can't simple use the existing country table for this.  Let me know if you have any ideas:
MIME-Version: 1.0
 From: =?UTF-8?B?Q2FsaWZvcm5pYSBUcmFkZSBOZXR3b3Jr?= <
caltrade@gmail.com>
 Database error in California Trade Network
 Query:
ALTER TABLE `Profiles` CHANGE `Countries` `Countries` set('AL',
'DZ', 'AD', 'AE', 'AR', 'AM', 'AU', 'AT', 'AZ', 'BS', 'BH', 'BD', 'BB',
'BY', 'BE', 'BZ', 'BM', 'BO', 'BA', 'BW', 'BR', 'BN', 'BG', 'KH', 'CM',
'CA', 'KY', 'TD', 'CL', 'HK', 'CN', 'CO', 'CD', 'CR', 'HR', 'CU', 'CY',
'CZ', 'DK', 'DO', 'EC', 'EG', 'SV', 'EE', 'ET', 'FJ', 'FI', '49', '50',
'51', '52', '53', '54', '55', '56', '57', '58', '59', '60', '61', '62',
'63', '64', '65', '66', '67', '68', '69', '70', '71', '72', '73', '74',
'75', '76', '77', '78', '79', 'LB', 'LR', 'LY', 'LT') NOT NULL default
''
 Mysql error:
 Too many strings for column Countries and SET
 Found error in file /var/www/vhosts/CALTRADE.com/httpdocs/community/admin/preValues.php
 at line 359. Called db_res function
 with erroneous argument #0
 Debug backtrace:
 Array
 (
 [1] => Array
 (
 [file] => /var/www/vhosts/CALTRADE.com/httpdocs/community/admin/preValues.php
 [line] => 359
 [function] => db_res
 [args] => Array
 (
[0] => ALTER TABLE `Profiles` CHANGE
`Countries` `Countries` set('AL', 'DZ', 'AD', 'AE', 'AR', 'AM', 'AU',
'AT', 'AZ', 'BS', 'BH', 'BD', 'BB', 'BY', 'BE', 'BZ', 'BM', 'BO', 'BA',
'BW', 'BR', 'BN', 'BG', 'KH', 'CM', 'CA', 'KY', 'TD', 'CL', 'HK', 'CN',
'CO', 'CD', 'CR', 'HR', 'CU', 'CY', 'CZ', 'DK', 'DO', 'EC', 'EG', 'SV',
'EE', 'ET', 'FJ', 'FI', '49', '50', '51', '52', '53', '54', '55', '56',
'57', '58', '59', '60', '61', '62', '63', '64', '65', '66', '67', '68',
'69', '70', '71', '72', '73', '74', '75', '76', '77', '78', '79', 'LB',
'LR', 'LY', 'LT') NOT NULL default ''
- Show quoted text -
)
 )
 [2] => Array
 (
 [file] => /var/www/vhosts/CALTRADE.com/httpdocs/community/admin/preValues.php
 [line] => 77
 [function] => savelist
 [args] => Array
 (
 [0] => Countries
 [1] => Array
 (
 [0] => Array
 (
 [Value] => AL
 [LKey] => __Albania
 [LKey2] =>
 [LKey3] =>
 [Extra] =>
 [Extra2] =>
 [Extra3] =>
 )
 [1] => Array
 (
 [Value] => DZ
 [LKey] => __Algeria
 [LKey2] =>
 [LKey3] =>
 [Extra] =>
 [Extra2] =>
 [Extra3] =>
 )
 [2] => Array
 (
 [Value] => AD
 [LKey] => __Angola
 [LKey2] =>
 [LKey3] =>
 [Extra] =>
 [Extra2] =>
 [Extra3] =>
 )
 [3] => Array
 (
 [Value] => AE
 [LKey] => __Arab Emirates
 [LKey2] =>
 [LKey3] =>
 [Extra] =>
 [Extra2] =>
 [Extra3] =>
 )
 [4] => Array
 (
 [Value] => AR
 [LKey] => __Argentina
 [LKey2] =>
 [LKey3] =>
 [Extra] =>
 [Extra2] =>
 [Extra3] =>
 )
 [5] => Array
 (
 [Value] => AM
 [LKey] => Armenia
 [LKey2] =>
 [LKey3] =>
 [Extra] =>
 [Extra2] =>
 [Extra3] =>
 )
 [6] => Array
 (
 [Value] => AU
 [LKey] => __Australia
 [LKey2] =>
 [LKey3] =>
 [Extra] =>
 [Extra2] =>
 [Extra3] =>
 )
 [7] => Array
 (
 [Value] => AT
 [LKey] => __Austria
 [LKey2] =>
 [LKey3] =>
 [Extra] =>
 [Extra2] =>
 [Extra3] =>
 )
 [8] => Array
 (
 [Value] => AZ
 [LKey] => __Azerbaijan
 [LKey2] =>
 [LKey3] =>
 [Extra] =>
 [Extra2] =>
 [Extra3] =>
 )
 [9] => Array
 (
 [Value] => BS
 [LKey] => __The Bahamas
 [LKey2] =>
 [LKey3] =>
 [Extra] =>
 [Extra2] =>
 [Extra3] =>
 )
 [10] => Array
 (
 
[Value] => BH
[LKey] => __Bahrain
 [LKey2] =>
 [LKey3] =>
 [Extra] =>
 [Extra2] =>
 [Extra3] =>
 )
 [11] => Array
 (
[Value] => BD
[LKey] => __Bangladesh
 [LKey2] =>
 [LKey3] =>
 [Extra] =>
 [Extra2] =>
 [Extra3] =>
 )
 [12] => Array
 (
[Value] => BB
[LKey] => __Barbados
 [LKey2] =>
 [LKey3] =>
 [Extra] =>
 [Extra2] =>
 [Extra3] =>
 )
 [13] => Array
 (
[Value] => BY
 [LKey] => __Belarus
 [LKey2] =>
 [LKey3] =>
 [Extra] =>
 [Extra2] =>
 [Extra3] =>
 )
-----------snip------------