It does take a while to do the transfers.   I've only ever transferred a subset of the morphs, because they are normally sufficient..   I have known Morph Magic to use up all the memory and seize up.   You can tell from the task manager if that is happening (CPU comes down, but memory use stays in the far north and doesn't vary).   Even if I am wanting to apply morphs to two similar items, e.g. a left and a right boot, I find it's best to do one item at a time.