Or anything equivalent without using projections? I have a scenario here where I’m experimenting with panel loops, and to get the best result I would like to duplicate the subtool, subdivide smooth one with a polished panel loop applied and subdivide non smooth the other with an unpolished panel loop. This gives me two different results with differing topologies but an identical mesh poly count, and would love to transfer one to the other as a morph target so I can use the morph brush to combine the results where each works best.
I’m not entirely sure I grasp all the finer points of what you want to do here, but I don’t believe so, not in the way that you say. I welcome correction on the matter.
However, you could duplicate your target subtool twice, subdivide one and panel loop it as desired, and subdivide and panel loop the second, and use the Z Project Brush to paint detail intermittently onto the original from one subtool or the other by toggling visibility. I know you specified no Projections, but that was in order to preserve the original geometry, no? This does that. If you wanted a more accurate surface projection you could also mask out areas on the target subtool, and project section by section intermittently from the resulting source meshes with Project All.
If it’s a matter of just getting different shaped panel loops to mix and match, you could always Append( Panel Loops>append) the panel loop extrusions as separate physical objects to place as you choose.
Here’s an image example from one of my practice models:
http://i.imgur.com/HEMHvAl.jpg
The top and bottom meshes were made with two different settings for subdivision and panel loops that otherwise produce two different results with exactly the same poly count. I can pop both into 3ds max and use the morpher modifier there on them with no hitch. In zBrush, I was thinking it would be a powerful and flexible solution if I could transfer one to the other as a morph target in a similar fashion, and then use the morph brush to, say, clean up those square areas to reflect the top result while having smooth areas around the rim and featureless panels reflect the bottom result.
Is this really not a thing? I will be genuinely surprised if zBrush includes a powerful UV transferring tool and yet no morph transferring one to speak of.
I think that the topology needs to be the same for morph targets, not just the poly count. But all you need to do is store a morph target and then import the other model as an OBJ. If it works, you’re OK.
That worked exactly as I was going for, thanks 
a little roundabout to export but a solution is a solution nonetheless, though I have to ask because this is as good a time as any and I’ve wondered this before: Why does an imported subtool replace the current active one anyway, rather than append/insert it like an insert from another tool would? The fact it actually retained the morph target like that is the first time I learned that the data connected to the subtool actually carries over like that.
Importing into the selected subtool is useful in various situations. That is how Transpose Master works, and the copy UV function of UV Master also makes use of this (you could also create your UVs elsewhere and then import in the same fashion). Another example would be restoring an original base mesh before generating displacement maps.
You have to be careful though. If the selected subtool doesn’t have any sub-division levels then importing an OBJ will replace it irrespective of the topology.