Lets see if I can articulate this. For a long time I have avioded using custom body morphs on V4 because the clothing would not fit. I recently descovered the "Magnetize Clothing" poses for V4 and they seem to work on some clothing but do nothing on other clothing. For example I have The Cutoff Jeanz http://www.renderosity.com/mod/bcs/the-cutoff-jeanz/93189/ but they do not automaticly conform to custom body shapes....they have a bunch of adjustment morphs and body shaping morphs but that would mean that I would have to figure out what body morphs where on V4 to start out...Also some cloths from DAZ like the original V4 bikini seem to do some auto confoming when I place them on V4.

What do I need to do to get any clothing to conform to a custom body shape for V4 without having to spend hours spinning morph dials?

You can spawn a full body morph which will combine all your settings into one dial.  Save the character to the Library.  Use a program similar to Morphing Clothes to transfer the custom morph to your clothing.  That should take care of the conforming aspect with little tweaking.  Wardrobe Wizard will also transfer morphs.  Or, in PP2014, you can copy morphs directly.

I guess the catch with that is I have to make a new clothing file each time I want to use a different moroph...there has got to be a better way to do this like a python script inside Poser that would just read the morphs and transfer on the fly each time I needed it.

As I mentioned, PP2014 has the copy morphs feature which can allow you to port the morphs from figure to clothing, and then tweak in the Fitting Room if you need exact fit.  

I think the problem is that I can't read! lol Thanks dude!

The Magnetise poses have nothing to do with fitting custom morphs. Victoria 4 has a number of hidden magnets that are controlled by the joint rotations, they are used to adjust the mesh when certain joints are bent and also to provide some natural movement on the breasts (especially when the arms are raised or lowered) - the magnetise poses, properly applied, transfer the effect of the magnets to conformed clothing.