Since links have been posted, here's my take.
I didn't bother converting. Wasn't worth the time for me. That's me. I went to pdaXrom, then OZ, then Cacko, and that's there I'm at now.
If you have the time and inclination, it'd be a good experience to convert it (once you manage to install the terminal (when I couldn't find one by default, I said the heck with it and flashed)), but I don't know that it's experience you couldn't find elsewhere, if that's something you're interested in.
If you're planning on flashing anyway, I'd say give every rom a try and see what you like. Kismet will run on all of them, so that's isn't exactly a defining factor between them. I love the clean look of Cacko, but I really like the options of having an X server. Decisions, decisions.