caulbox,
I don't own Poser 5 yet but the beta-testers have helped me figure out the P5 stuff. I was told that the bump value should be 1/10 of the P4 bump (gradient bump) setting and that's how MPE converts the values. Do you think 1/100 (P4 bump value of 30 translated to 0.003) would be correct or is it more complicated? What do you think Ronstuff?

Unfortunately you can't convert all the P4 MATs into P5 format. Partial MATs (Skin tones poses, bump strength poses, eye color poses, etc.) don't work in Poser 5. If you try to convert partial MATs into P5 format MPE will display a message which tells that the conversion can't be done. However, you can use P4 partial MATs in Poser 5 if the MATs don't affect the image maps (textures, bump maps, etc.). Well, at least that's how I understood it.