any insight on the differences between bearings and bushings on fully suspended mountain bikes?
Pros/cons of each?

thanks!

Given the same conditions, bearings will last longer.

Has anyone converted their suspension from bushings to bearings?

I have witnessed a conversion of a '99 FSR from bushings to bearings. MUCH quieter, much less slop in the rear end. Bearings will almost always last longer and give better performance than bushings in a FS frame.