I never understood the point of conversions from such an extremely different edition. It works for people that do not care so much about story, consistency, and verisimilitude. For those that do, it ruins a game when suddenly the racial traits, abilities, magic, and the way your magic items worked suddenly change/disappear.
"Hey, remember when Johan the Cavalier used to charge his foes and devastate them with a flurry of attacks simultaneously? Whatever happened to that? He kinda stopped."
"Oh it is weird. Why, I noticed the famous Tattooed Monk, Hayana, used to perform supernatural abilities based on her tattoos but they all went inert. Just normal ol' tattoos now."
"Hey, what happened to my Strength? I had managed to get as strong as old dragons, now suddenly I cannot get as much stronger in Strength as an ogre?"
It's simply best to start from scratch. I don't see how conversions are necessary.