Probably not worth the trouble in my book. I don't know all the specs on the LHT vs the Iron Horse but some of the things that can go wrong include: BB (68mm vs 73mm), spindle length/chainline, tubing size for FD clamp, FD bottom/top pull/swing, FD throw vs. chainline. Then there is the seatpost sizing, wheel sizing, rear cassette compatibility, canti vs V-brake, etc.
If you do go this route I'd consider using a single chainring up front. That would let you run a number of gears with minimal effort.