(UPDATE: A user at BlenderArtists.org shared this link to a similar process available in 3DS Max: http://cgnews.com.ar/2012/01/morphit-morph-entre-geometrias-de-distinta-cantida d-de-poligonos/)

If one has two logos (or characters, or cars, or whatever) which have totally different shapes and Materials, then there is currently no rapid way to "morph" one into the other (none that I'm aware of). But this is probably an effect that can be automated, and that many Blender users could use a lot. (For instance, morphing a 1960's Ford Mustang model into a 2000's Ford Mustang model.)

I believe that a "Morph Modifier" could be a solution. There are probably many ways to do this, but my idea is:

(1) User selects the starting model and adds the "Morph" modifier.
(2) In the Modifier dialogue, he selects a Target Object.
(3) User selects how many steps in the transition he would like (let's say 35 for now)
(4) Blender Makes 35 dummy Objects. Each one subsequently alters both the shape and the Material from one to another.
4b.) The Modifier could calculate the change in shape based upon the two Objects' Bounding Box shapes.
(5) The 35 Morph Transition Objects are stored in a cache, much as Physics simulations are.

I believe that this is viable and would be a tremendously popular and cool feature of Blender.

Regardless, thanks to all of you, as always.