You are still using Morpheus? The twentieth-century called, landlines are big again. Seriously, there are so many better tools for file-sharing. Don't worry though; I used this program for a week to give you a run down, so you don't have to use this ancient program.
Morpheus, shortly before it was discontinued, introduced UDP as a protocol for file transmission. UDP is faster, but TCP, which you may have heard about it, is much more reliable. UDP will get your music or movies to you a little faster, but your files may have errors. Unless you live in the boonies stick with TCP. Ignore the new feature. Though if you're considering Morpheus you probably live in the boonies.
Morpheus, in it's final release, introduced parental controls. Yes, controls that were invented sometime in the Stone Age and which are dirt-easy to implement have made it to your favorite also-ran. You can filter by keyword or category ... and how else would you filter? I don't know. If you're using a file-sharing program and you are concerned about that kind of content, stop. You are embarrassing yourself.
Morpheus is listed as "compatible with Windows 2003." That should tell you everything you need to know. If you want a strange time-warp to a time when a four megabyte download was a big deal, and none of your music had consistent ID3 tags, then use this software. Morpheus uses all the P2P networks so you have just as much of a risk as the next bloke of stumbling upon an RIAA or MPAA complaint. Be smart and safe and virus-free. Do yourself a favor and don't use Morpheus.
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