The RemoveMorphs script in my freestuff section here does exactly what you want. It performs the morph removal "in-place", you don't have to leave Poser.
The script analyzes all morphs in the currently selected figure, and strips out the delta information for each and every morph that has an effective value of zero.
It will leave the morph CHANNELS in place - but those don't take up all that much memory. It's the deltas you want to get rid of, and that's what this script does.
If the figure is Aiko 3, Steph Petite, or Victoria 3, the script makes use of an exclusion list - morphs that should not be stripped. I've included all expression morphs in the lists.
Creating your own lists for other figures is simple, see the readme.

Requires Poser 5 or higher.

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