Thanks for the advice, both of you! Rodger, I had been thinking about trying hooks. I think I'll give that a go tonight. I was advised against it by others when modeling this, but it does seem like it might avoid the creasing in the torso and might also help out with a more subtle issue up in the chest area. Your attached image is appreciated, I'll study it some more tonight.
C-grid, your approach is an interesting take, and sounds really great if I wasn't going to animate this. But since I am, wouldn't the frontside extrusion method result in too few CP's to use when rigging, considering I want each leg, for example, to bend smoothly?
As for the bias adjustments, I think those would result in edges that are somewhat rounded (good), but flat surfaces that are somewhat curved rather than straight (not good). But I am new to the program and might be misunderstanding what you're saying.
If anyone has further thoughts, please feel free to share!