Thanks for the info Merrill77 ... so there may or may not be a benefit for a "part time" woodworker to convert ......hmmmmm.
Based on how much money this is adding up to be, I am thinking that even replacing the odd motor here and there over the time period of a decade is probably still more cost effective than the rewiring and re-outfitting all the tools that will need new motors.
I thought that there may also be some better contol of motor speeds, but this may not be the case ... in any event I think I am going to pass on this project for now.