I highly recomend and in fact in some cases it necessary to have your base figures & morphs (not injections) installed to your primary folder. which is mostly your poser/ds directory, unless youve opted for the external directory, in which case you can set that initially to the drive with space. Try to have all other content (props, scenes, character packs etc - non core stuff) installed to an entirely seperate folder, or folders - when you have mega gigs of crap, its nice somtimes to turn off non-essential folders inside the library. also try to avoid installing DSON or non-poser install files to ur poser directories - rather have a seperate one thats linked through library.
With regards to the heel thing, its a PITA, and for Daz Studio i fix it through some scripts from SHARECG.COM or if using aniblocks, u can create an underlying aniblock once off that corrects the feet/figure accordingly, and you can load it in future without having to repeat the process - this same technique is used to convert Vicky/Mike aniblocks to Genesis.
With regards to Poser heel correction, im not sure or long forgotten, my best guess is using setup room, but a quick google or search on smithmicro forum should put you in the right direction.
Also to save you time in future - instead of loading V4.2 then the individual morphs - ++/elite/steph w/e rather load 4.2 into blank scene, apply all the morph packs, then save that figure to your library - same applies for Daz Studio - will save you oodles of time.