Well, what I did was make that separate "DAZ Content" folder in Documents as some suggested and then created a  "DAZ V4" folder with a dummy "Poser.exe" and "Runtime" folders with all the various dummy library folders.  

When I chose the destination path of Documents/DAZ Content/ it created its own runtime folder & installed everything in there. I then found it in the Library inside Poser & clicked Add To.

Now the NEXT QUESTION: How do I install the Morphs ++  and Muscle  Morphs?  Same path?