I don't have the Taylor, so can't comment on that. As to magnets, whilst as xantor said you can use magnets and then spawn morph targets from the effect of the magnets, but for a clothing item it may be better to leave the magnets attached but locked, as the magnets could be used to deforme the clothing item for a number of diffrent characters, you could even update the the clothing to fit a new character by distributing a pose (pz2) to adjust the magnets. The down side of using magnets is that there do seem to be some bugs involved with magnets not always loading properly from a saved pz3.