I use Morph Magic to enable items to be used on morphed figures, when the clothing figure does not contain any morphs to begin with (e.g. something that is designed to fit base V3 only).   It works quite well, but it does have consequences for resources, as rreynolds has said.   It is limited to putting morphs from a figure into a clothing item designed for that figure, so it is not equivalent to Wardrobe Wizard.