Is there a way to flag database entries that are just flat out wrong? Every time I add a NY Strip the first one in the search has about double the cals and fat that it's supposed to.

when you're at the point of telling MFP how much of the food to add to your diary it's right there below the food name "nutritional info" link click that. It will ask you if the info shown is correct. Yes - verifies and closes so you can log as is... no will ask you if you want to correct it (if it's another MFP users entry, MFP official entries (those with multiple serving options such as 100 grams or 3 ounces in the same item, those not denoted with a * in the search results ) we can't edit)

Many users flag food items for investigation. This helps other users avoid them. You see them if you search for:
'deleted'
'duplicate'
'error'
'incorrect'
'mistake'
'wrong'

You can do the same.