Just set up the folder structer the same way that the Poser 7 runtime is set up. 

Create a new folder and name it "Runtime"

Then inside there create the following:

Geometries
Textures
Libraries

Inside the Libraries folder create the following:

Camera
Face
Hand
Character
Props
Poses

Then put your newly created runtime folder inside another folder and name that folder whatever you like. I have runtimes with the following names:

V3 Character Addons (includes the base figure and morphs)
V3 Clothing
M3 Character Addons (includes the base figure and morphs)
M3 Clothing
Aiko
Plants and Flowers
Backgrounds and Environments
SP3 Character Addons (includes the base figure and morphs)
SP3 Clothing
Animals
Vehicles
Lights
Poses
Props
Angels and Faeries
Mermaids
etc. etc. etc. etc.  I have over 40 separate runtimes.

Inside each of those folders is:

• Runtime
• A text file that I have renamed to poser.exe so that when I install stuff Poser can find the runtimes.
• Readme
• Templates
• Scenes

After you have installed your content, help Poser out by looking into your "Libraries" folders and making a copy of the !DAZ folder and pasting it to the Poser 7 Libraries folder.  This will helps speed Poser's search for morphs because it looks first to the default Poser folder before moving on.

"It is good to see ourselves as others see us. Try as we may, we are never
able to know ourselves fully as we are, especially the evil side of us.
This we can do only if we are not angry with our critics but will take in good
heart whatever they might have to say." - Ghandi