By your definition, the Planewalker project is not a conversion. They have advanced the timeline 5 years after Faction War, changed the hierarchy of the remaining factions, added new factions, added new skills, feats, PC races, etc., and added new rules thought appropriate but not necessarily necessary (i.e., the prestige races and locales of power). Again, some of what has been done is really good -- I'm particularly proud of my Ring-Givers -- but there is a lot that would be considered "controversial." At the very beginning a discussion was launched as to whether the setting should be converted pre- or post-Faction War, and the latter camp prevailed. C'est la vie.