I usually don't go for gimmicky things like conversion kits but I bought a kit from Brownell's:
http://www.brownells.com/.aspx/pid=27008/Product/CMMG_AR_15_M16__22_LR_CONVERSION_KIT
It works in both of my carbines, a 1/8 and a 1/9 twist barrels, but it works better in one than in the other.
In the one it works best in, a Mod 1 upper with the 1/9 twist, it feeds reliably and fires 'bugholes' - putting shots down one on top the other like it thinks it's a benchrest rifle. If anything that rifle is more accurate with the .22 kit than it is firing .223 or 5.56 ammo. It really surprised me as I wasn't expecting more than 'plinking' accuracy from it. It's doing it with both Remington and Aguilla ammo from CMP - their 'black box' stuff that I've got tons of here. Some of the Remington needs two hits to fire but it's like that in most of my semi-auto .22 rifles, so I don't think the kit can be blamed necesarily. Maybe it needs a slightly stronger recoil spring.
It's fired over 1000 rounds now and seems to be getting even better with more rounds out of it and I haven't cleaned it or removed it from the carbine it's working so well in. I don't want to disturb it.
. I did need to crank the Aimpoint to a new zero but it wasn't all that far off and wasn't a big deal.
In the other rifle, a Fulton Armory build, the kit tended to fail to close. It worked most of the time but would need a push about five times a 26 round magful. That rifle is a tight good shooting piece of artwork and I don't think I'll subject it to the kit again - it spits it up anyway.
I do have another rifle with a Colt 1/7 20" barrel in a Colt upper but I haven't got around to trying the kit in that gun.
So that kit has become one of our favorite backyard shooters. My wife is coming around to liking the AR ergo finally too, so it's a great training aid - LOL!
I'd like to have a little stronger hammer spring to get the gun to hit harder, but other than that I think that kit is a good thing.