Okay I surfed around a bit last night looking for a bike that might be a good candidate for this type of conversion. I found a few with one of the promising candidates being a Kona PHD.

http://www.konaworld.com/bikes/2k7/PHD/index.html

This bike uses a compact geometry, lightweight frame. It has a carbon fork, Mavic wheels w/700x23 tires, Shimano 105 group, Avid brakes, and FSA Gossamer triple crank.

It looks like it comes with a long, relatively flat stem. Maybe something around a 120mm with 10 degree rise. I know of a mtb stem that is 65mm with a 45 degree rise. This would bring the handlebars back toward the rider by more than 2" and raise them up too. I don't know if this would be the best stem, but it is one option among many. There are adjustable stem options too. And things like 80mm w/30 degree rise.

Then if you replaced the flat bar with something like a Wald 815 or On One Mary bar
http://www.pricepoint.com/detail/145...-Hanldebar.htm

This might require replacing the shifter and brake cables with longer ones, but I think everything else would be reusable.

From there one could look at sliding a stubby bar end further down on the Mary bar, inside of the grips or installing aero bars to give alternate hand and riding positions.

With the more upright riding position, you'd need to swap out the narrow road seat for something more comfortable, for the purpose of this exercise, let's say we put a Brooks on it.

So there's where I went with this with about an hour's thought.