There are about
a dozen ergoloids in morning glory seeds other than LAA, not counting alternate isomers and stuff like that; the exact number depends on seed type. And it seems like there's a lot of opportunity for these chemicals to be filtered out. This is based on both reports that state little to no side effects resulting from chemical extractions and this is also based on the solvent selectivity indications stated by the following literature. Anybody want to take a look at it?
Edit Dumbass me, the second one clearly tells you how to filter out all the other ergolines.
Genest, K. A direct densitometric method on thin-layer plates for the determination of lysergic acid amide, isolysergic acid amide and clavine alkaloids in morning glory seeds. Journal of Chromatography A. 15 February 1965, 19(3):531-9. DOI: 10.1016/S0021-9673(01)99495-6.
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Chao, Jew-Ming; Ara DerMarderosian. Ergoline alkaloidal constituents of Hawaiian baby wood rose, Argyreia nervosa (Burm. f.) Bojer. Journal of Pharmaceutical Sciences. 1973, 62(4):588-91. DOI: 10.1002/jps.2600620409.
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And I do believe that LAA is the only desirable chemical found in morning glory seeds and I primarily base this on the following comments from Albert Hofmann:
Grof: Have you actually tried the ololiuhqui yourself? [uh-lowli-uh-kee]
Hofmann: Yes, I did. But, of course, it is about ten times less active; to get a good effect, you need one to two milligrams.
Grof: And what was that experience like?
Hofmann: The experience had some strong narcotic effect, but at the same time there was a very strange sense of voidness. In this Void, everything loses its meaning. It is a very mystical experience.
Stanislav Grof Interviews Dr. Albert Hofmann. MAPS Bulletin 9.2 (Fall 2001): 22–35.
The effective dose of lysergic acid amide is 1 to 2 mg by oral application.
Albert Hofmann. The Road to Eleusis: Unveiling the Secret of the Mysteries. 1978. R. G. Wasson, Albert Hofmann, and Carl A. P. Ruck. Page 10
Ololiuqui corrected as ololiuhqui
NOTE: Although the spelling ololiuqui has gained wide acceptance and is now the commonest orthography, linguistic evidence indicates that this Nahuatl word is correctly written ololiuhqui.
Note by R.E. Schultes included in the following essay: R. Gordon Wasson. Notes on the Present Status of Ololiuhqui and the Other Hallucinogens of Mexico, Botanical Museum Leaflets, Harvard, vol. 20 (1963)
Tests on isolated ergonovine, another chemical found in morning glory seeds, show that it is active, but only in artificially high doses. I don't think any of the other chemicals have a psychoactive effect.
Further reading:
morning glory seed information archive