So yeah, good idea, not bad idea. Assigning one employee to convert stuff already written, at significant profit, is a good idea. I'd bet a lot it would be a net positive.
It would take more than one; you'll need one person to write the conversion, another person to edit it, and a third to do the layout (which could be an extensive job, if you are reprinting entire adventures but with different stat blocks), at least.
Then you'll need to re-playtest the adventure, because my impression is that 3.5e/Pathfinder encounters aren't necessarily the same as 4e encounters. Just swapping 4e orcs for Pathfinder orcs might not work very well.
Plus, one game is 1-20, the other is 1-30, and characters of a particular level in one system will have radically different capabilities from same-level characters in the other system. How good of a 4e adventure will a simple encounter-by-encounter conversion produce? Will it be up to Paizo's standards?
I think it's a bit more work than just having one person do it.
From what I know, modules/APs do just fine.
If they do, why don't more people make them? As far as I can tell, the people currently publishing adventures regularly are WotC, Paizo, Goodman Games, and a few PDF-only publishers that probably sell a few hundred copies. I don't think Adamant has put out a 4e-compatible adventure in a while, though I haven't checked.
Outside of D&D & its heirs, who else sells adventures in print? Pinnacle & several Savage Worlds licensees do, but only Pinnacle & Triple Ace Games have adventures in print, AFAIK. There are much more in PDF (thankfully), but mostly, they don't seem to be worth the money to print 'em. TAG has said that sales of PDF adventures financed the later printing of said adventures in compendiums, implying to me that just printing the adventures was seen as unreasonably risky & expensive.
Hmm, maybe that's what I'd do if I was CEO of Paizo:. take my Ferrari, leave my sprawling seaside mansion, drive into town to the bank, get the magic wand out of storage, and wave it to make RPG publishing much more profitable, retroactive into the past (thus providing the Ferrari, seaside mansion, etc).
