I made the switch last night!
I had kinda messed up my derailleur/chain while transporting my bike in the back of my gf's car. It was rideable, but acting weird, then the chain came off the front sprockets yesterday and as I tried to "pedal my chain back on" by adjusting my front derailleur, (which I've done many times) the chain caught and bent the rear derailleur and itself, rendering my bike practically useless.
I don't have the best job right now, so I'm not currently into buying a new rear derailleur, chain and now cogset (I ride all year in all conditions and let the chain and cogset wear together, rather than replace the chain at regular intervals, call it laziness if you wish). I ended up just removing the derailleurs, shifters, cables/housing and cogset, slapping on my ss adapter and cog onto my freewheel, taking out the bent portion and resizing the chain, and voila! a perfectly good rideable single speed. Runs great, and I think it'll even work well here in hilly Pittsburgh with the 42-18 gear combo. You might want something with a little larger ratio for the flatlands.