Alexandre Labedade has an upcoming LScript plugin called Weighter 2 and what it does is to transfer vertex maps from one object to another, weight and colour maps, UVs and morphs. Similar to Gator in Softimage.

Here is a preview of its weight transfer aspect.

http://vimeo.com/moogaloop.swf?clip_id=12838390&server=vimeo.com&show_title=0&show_byline=0&show_portrait=0&color=&fullscreen=1