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I'm not sure if you can use DS to convert your material files to DUF and then use DS to convert them to Poser Companion Files that will load with the DSON converter. Anyone know if that will work? If no one knows offhand, I'll test it myself later.

You can do this. Also Draagonstorm has a DS utility that will read the poser material files and apply them Genesis 2 and you save that out as a .DUF file as well. The resulting material file will probably still need to be tweaked in Poser.

It is a bit of work to convert your favorite characters, I usually convert all my purchased M4 characters (the head morphs mainly and I make a body shape based on Genesis 2 and using zbrush and modo) but after a while it doesn't take long to convert.