Does anyone know how to map controls on the mpk to the knobs and dials in reason? Would this be the same as the process of mapping drums in redrum to specific drum pads on the mpk?

Edit remote override mapping,,,

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The MPK49 is already a supported MIDI controller in Reason 5 and in Reason 4 you can add it to the list by using the Reason Remote Files from the Akaipro website.

I can't post a link here because I guess new users aren't allowed to.
Just go to akaipro dot com /mpk49, download the remote files and follow their instructions. This way stuff will be automatically mapped for you.