The !DAZ folder has to be in the main runtime. The Poser 5 runtime, not in any other runtime. (Poser allows multiple runtimes, but DAZ doesn't support Poser 5.) Basically, this means if you've installed M3, V3, The Freak, SP3, etc., to any other runtime you have to copy the !DAZ folder over to the main runtime.

Also, whenever you install any updates to the DAZ figures (and there are always updates), you have to remember to copy the !DAZ folder over to the main runtime again.

If you only use one runtime...well, maybe you should break it up. Poser 5 runs really slow if the main runtime gets too big.