I have never had a problem with any Daz/Millennium product under P5. There have been reported some problems with conforming clothing - something to do with the old crosstalk bug/fix as I recall, but I understand these have now mainly been fixed as updates by Daz. And Daz are now starting to realise that they need to support P5 to be competetive: their recent releases (ie starter bundle) included P5 MAT files. You won't need to reinstall any products, you can leave your existing installation where it is, just link the old P4 runtime to the P5 installation. You can do that from within P5 once its started up. The only thing you will need to do is with any injectable millenium characters (V3, M3, etc), install the "!DAZ" folder which contains the delta files to the main P5 Library folder as well as the external runtime (if you're using one). Poser always looks for delta files in its installation runtime before looking elsewhere, so if you don't copy the folder over, you'll be waiting a long time for injections to work.

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"you are terrifying
and strange and beautiful
something not everyone knows how to love." - Warsan Shire