Wannabe, I've done conversion a few times, and it works very well. The rod is bored out until all the babbit is gone, and a few thousandths are removed from the steel part of the rod. Then, a couple of notches are filed or ground into the rod for the anti-rotation tabs on the insert bearings. The result is a rod that accepts insert bearings, in whatever undersize is necessary to fit a reground crankshaft. The same low-pressure dipper-type oiling system is used as the original babbit bearings have, but the bearings are replaceable, instead of having to look for replacement rods.
Jerry


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