Content Type column not available for Calculated field calculations in SharePoint 2010. In SharePoint 2007 if you have a Calculated field using content type in its formula, if you migrate to 2010 or even 2013, you will see any error in calculation.
[Content Type] in calculation is replaced by ‘#Name?‘.
In SharePoint 2010 and later versions, Content Type is not made available for Calculated field calculations. If you use it in 2007, after migration, it will end up in broken state. Either you need to reconsider your design or use customization to get around the issue.
Field types of text, number, datetime, choice, workflowstatus, boolean and calculated are available for Calculated column formula’s. Since content Type is of type ‘Computed’ it is not made available.
So, don’t freak out after migration if you see a formula with ‘#Name?’ instead of [Content Type] in it.