Sounds like you got it under control. Far out :)

Now that youre at the point of side by side working installs of Poser 4 and Poser 5, with Poser 4's Runtime imported to Poser 5 (effectively, you just "introduced" your P5 to your existing P4 Runtime and it will now follow the file tree to all needed .cr2's, .obj's, textures etc right where they normally reside in your P4 folders and read thier data from there, and implement in the P5 workspace)

Now there is a pretty necessary next step to employ if you are a user of Daz3D's head and/or body morphs for the millennium characters:

If you have installed any head/body morphs, you should have a !DAZ folder at

Poser 4RuntimeLibraries!DAZ

take this folder and copy (important that you copy not move this folder) it to the same location under P5:

Poser 5RuntimeLibraries!DAZ

The reason for this is that there are vital data files for the function of the morphs that cant seem to be read from an imported runtime, that !DAZ directory has to be under the "local" Runtime's library directory.

If you ever install any additional morph packs from DAZ (say you currently have M3 bodymorphs and you at a later time get the David head morphs, etc) make sure to get the new files added to the !DAZ folder copied over.

Hope this helps,

Logan