Just to clarify, when I mentioned not being able to achieve some very common structure  and detail to V4, I wasn't talking about with dialed morphs, despite owning quite a lot of morph sets, both DAZ and 3rd party.  I was talking about sculpting custom morphs, and looking at other people's custom morphs.  I almost never "just load some pre-made character," because I'm too specific in terms of what I want to make.  I don't think it's better or worse to do, I just personally don't do that.  I probably waste a lot of time twiddling with dials for effects no one notices, to be honest.

Also to clarify, my experiences with V4 involved attempting to match reference photos of ordinary people from various places around the world.   For full disclosure, I had problems sculpting V3, too, but in a totally different fashion.  I just couldn't make certain things happen with V4's mesh due to low resolution and loop placement in certain key areas (moving edge loops to an appropriate position would cause an incredible amount of texture stretching), but I just couldn't do certain things with V3 because the poles in her mesh for detail gave me problems.

Unfortunately, enlarging her head and making her more puffy won't help realism unless you don't mind decreasing the amount of detail rather than increasing it.   If you're trying to add detail, well, there's stuff I've done and stuff I've seen others do, but certain basic limitations seem to have persisted.  Limitations that V3 simply doesn't have.  Which isn't to say it doesn't cut the other way.  V3 has limitations V4 doesn't, too.  Figures all have limitations, and you have to choose the ones that not only suit you, but suit what you're doing at the time.

Given JoePublic's results and my own experience with the morph tool, I'd say it's just as valid to say say you should spend a little time with the morph tool on V3 as it is to say you can't use any of the hundreds of dialed and custom morphs available for V4 without having to adjust them to make a realistic character.  It's not that hard to smooth stuff like that out or generally fix bends.  I know because I have to do it all the time with V4.  I have consistent problems with her shoulders (even after corvas' fix- these aren't due to the high cut), her hips, her knees, her elbows, and her butt.  Her ankles are just a nightmare for me.   I'm guessing I'm not the only one having these problems to judge by the popularity of the recent fixes to her arms, legs, and butt, and previous fixes to her shoulders and feet. 

It all depends on what you're comfortable doing, and what your goals are.  Personally, I often work from poses in photos, and the only figure that hasn't given me a problem with bending is Antonia.  And of course, if someone weight maps V3, that should take care of her bending issues.

Pre-made characters are just someone's else's custom dial spins.  En masse, they actually give you a very clear usability test. If most content creators, who are generally the ones in the community with the most experience in skill in creating characters,  have so much of a problem making realistic characters with V4, and pretty much all the characters for V4 are stylized, then the issue isn't the content creators.  Which isn't to say that realistic characters are any better or worse than stylized ones.  But it's nice to have choice.