Hexagon2. Studio is set up to work quite well with Hexagon2 using the Studio bridge, and it's only $20; I beleive, at DAZ. I use it quite a bit to make clothing fit morphs, and have used to make morphs for the mil 4 figures.

Seriously it's as simple as "send to Hex" do your morph, "send to studio" pick your morph catagory, and name your morph, done. No muss, no fuss and falling out of a chair easy. Hex2 may not have all the fancy bells and whistles of mudbox or Zbrush, but then you wont need them.