I used Cage/Sparki's python script to transfer all head morphs as well as several body morphs from V4.2 over to LOD 17K. http://www.renderosity.com/mod/forumpro/showthread.php?thread_id=2677445

Once the script has analyzed V4.2 and the 17k LOD, you can transfer any morph over in a few seconds.

Just note that several of V4.2's face "morphs" are just ERC dial settings, so you first have to spawn an actual morph target that you can transfer.

A friend also used the Morphing Clothes program for the bodymorphs and was quite satisfied with the results.