Subclassing the formset is accomplishable after all. After creating your class library and storing your subclassed form and formset in it. You can USE the classlib table that has been created. Search through the record entries untill you find the record containing the name of you formset. There should be 2 consecutive records there with the exact same TIMESTAMP. The second record holds the key to the 1ST FORM delima.
1. In the CLASS field replace the existing string with
the name of your FORM subclass (ie.. replace
"form" with "myform")
2. In the CLASSLOC field type the name of your
classlib (ie..."myclass")
3. In the Tools Menu Select Options and the Forms
Tab Select Your Form and Your FormSet as the
defaults for TEMPLATE CLASSES.

All will be well.