(I know this subject gets beaten to death here, but here goes anyway.)

I'm considering converting my Ultegra triple to an FSA or similar compact crank double. Motivation is simpler and easier shifting while keeping a low gear for hills. The middle gear ratios look OK for what I typically use. I won't miss a 53-11 or even 53-12 (except maybe downhill with tailwind pursued by a runaway truck). Reduced weight is a secondary nice-to-have. Frame is a '99 Trek OCLV.

I'd like to use as much of my current components as I can. Currently:

Ultegra triple shifter (bought new in '04, 2,000 miles on it)
Ultegra front derailuer (triple), braze-on mount (used, ?? miles)
Ultegra cartridge triple BB with the standard wide spindle, Octalink spline (used, ?? miles, feels smooth)

Rear derailuer is a long-throw triple and I can live without the big-big/small-small gear combinations. Current cranks and chainring are stock Ultegra triple.

I know most compact cranks are ISIS but I think I can locate an FSA Octalink set. Assuming I can, do I need to switch to a double BB as well? If I must, I may as well get a new ISIS BB as well.

The front derailuer may have to be lowered slightly to accomodate a slightly smaller big chainring. Do braze-on mounts have enough adjustment to do this? If not, I need to get a clamp-on derailluer as well and I may just stick with the triple and save my money.

Info that came with my shifter suggests it's OK on a double, the middle position can be used to feather the derailuer.

Suggestions?