It's possible to do it, but it wouldn't save you any resources to speak of. I did this recently to make a cat-burglar character; the advantage here was that there was no need for a figure to conform all the parts to, since the various clothing parts covered everything. There are other ways to speed things up. Once you have your armoured character posed, export him/her to an OBJ file, then delete him/her and import the OBJ instead. This disposes of all the morphs and conforming stuff, and may help.