In terms of "zippier feeling ride" it should work out, and the parts ought to be compatible.

However, I'm not sure you will end up saving any money in the process. The frame will run you $550, wheels another $350+, labor can easily run you $250. All that to what, move $250 in slightly used parts?

In contrast you might be able to remove the racks and saddle, and sell the LHT for $500.

You might also want to look into something a tad more sporty, like a "plush" bike -- Specialized Secteur or Roubaix, Giant Defy, Cdale Synapse.