The morphing tool isn't that useful in my opinion. It's a bit difficult to control and not very precise, that was my impression of it anyway. It seems more like a gimmick than a truly useful tool.

I wouldn't get P7 for that particular tool, but it has many other improvements over P6 that makes it worthwhile to me (but I use it as my renderer too, so the way it handles texture memory was by far worth it alone). It seems a little bit more reliable than P6 as well, at least for me. I have made it crash a few times, but it's not often at all.