>I have a combo box set as a drop down list with it's list from a cursor. THe problem is I can't get the datasource to be filled from the 2nd column. I tried setting the bound column property to 2 but it still filled the datasource from the 1st column. What am I missing?

There are two properties of combo affected by rowsource allocation. For example you have 2-field cursor with fields Id,Name, Combo.RowSourceType=6 (fields, it's better than alias here), Combo.RowSource="cursor1.name,id" and Combo.BoundColumn=2.
Combo.Displayvalue (text in text portion) will show first column of RowSource- Name field. Combo.Value will store second column- Id field. So, you can use ID field (Combo.Value) of lookup table/cursor to create/edit master table record.