I recently converted a Canon D60 to full-time IR and here is my take on that conversion:
1. I really wish I had a P&S converted to IR because I could easily slip it in my bag and have it with me everywhere. The D60 is a bit heavy.
2. If not a P&S conversion, I wish that I had converted a 350D or like camera. It would be smaller, lighter in weight and would also be able to accept EFS lenses which the D60 cannot do.
I have not done a lot of IR work, but I do like the results.