did that once.. but it is kind of tedious things to do and the quality is a bit jerky. i think u need a computer which a lot of RAM and processing power to do it, in order to get rid of the jerk
while the conversion, to be advise that not to do anything with the computer, it will cause the jerk'g after it. it will take around like 6 hours to convert one, coz its is done frame by frame ;)