It does hair, although I haven't messed with that myself (haven't found the need).

I have tried to convert things with a lot of furrows and buttons and whatnot, as your typical armor is going to have, and have not had really great results.  The program shifts bits of the clothing's mesh around to make it fit the different figure, and sometimes that shift will span across the edge of a button or the like.  I'm not very experienced with it though, and others I'm sure have gotten a lot better output than my piddly skills can.

For smooth clothes it works pretty well.

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