What OS are you using?  Under Win7 or Vista you should not install content into the Program Files area.  DS4 defaults to putting content in ~DocumentsDAZ 3DStudioMy Library (where ~ varies with operating system), and that's the install path you should always use.

Most pre-Genesis content won't show up in Smart Content, but will show up in the Content Library under Poser Formats.  For example, V4 should be in Poser Formats > My Library > Figures > DAZ People.