Body handles are more versatile than morphs. I'd guess you'd need at least 3 or 4 different morphs to approach the possibilities of a single body handle.
Morphs almost always use more resources than body handles, as in they're using more memory. On the other hand, they're easier to calculate.
Same goes for magnets, by the way.

Grouping bones is not possible, there's no hierarchy in the dropdown. But you could use ERC on the translate/rotate/scale parameters of a body handle (or even a set of body handles), and you can organise those ERC master channels into parameter groups (nested if necessary), just like any other parameter.
It might be useful to remove the body handles from the menu. It might even be possible to change whether the body handle is selectable/appears in dropdown lists using pose files. Haven't tested that one out yet. Anyway, even if a bone is hidden from the menu, it's still selectable in the Hierarchy editor.

The pen is mightier than the sword. But if you literally want to have some impact, use a typewriter

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