My current work flow is to create the morph from the original object file in a seperate modelling program, (Carrara in my case). I then use the AddMorph ustility in the Tool Collection (linked above), this with this tool You don't need to make seperate body parts or morphs it can create either a local morph (single dial in group) or a FBM (dial in Body). This works as long as the morph object has the same number of verts as the orignal. Occationally you'll run accross a problem where the orignal object doesn;t have it's groups welded, this can cause a problem with creating the morph IF your modelling software welds the groups when it imports them, thus changing the  vertice count.

At this point I usually just save the new figure with the morphs imbeded, however the Tools Collection also includes routines to create injection morphs from pre-existing morposes or from morphed figures, but I'm not real familiar with this process. The couple of times I've used it they worked but i would need to re-read the manual to remember the work flow.

In addition this package also contains an numbe rof other utility routines that are very handy including a simple routine to make coforming clothing using s pregrouped model and a donor CR2. which removes the "extra" body parts from the new CR2, but leaves one "ghost" pass teh last group in the object file, and a routine to move embedded geometry from Props into the Geometries folder.

hope this gives some insite.

mike