I've actually been working on a system a little bit like this for a couple of days now, and I have almost everything in the PHB converted quite well.
First level stats are pretty similar to Tonguez's. I say all character get d8 hit dice, because the MM says that that's what humans get. 16 skill points (+4 times int modifier) and 7 feats at level 1 (neither value is quite definite), and 3 points to put into base saving throws. Every level after that is 4 skill points, 3 feats, and 1 point of saving throw (capped at level/2 + 2, which is the same as a good saving throw in core rules).
Everything else is converted into feats, including BAB and spellcasting and all class features. I've done almost everything from the PHB so far except for Monks, which I think need to be based on the psionics rules (most of their supernatural special abilities are, or should be, psionic feats)
If anyone is interested I'll probably post the entire document on a web site soon. And by the way, I believe it is fully OGL compliant, since I'm only drawing on material in the core d20 rules, and it also doesn't change the base rules, technically it could be treated as one highly customizable class, without changing any underlying mechanics. Characters in my system are almost balanced at the same level as standard characters and can recreate most of the same traits.