If the barrel is done right, as Bar-Sto (for one) does them, all that's needed may be magazines. If the barrel isn't done right, you may have extractor problems, and breechface problems, etc., etc.
I've seen some Bar-Sto conversion barrels, and some done for EAA guns. In these cases, a single gun can shoot .40, .357 SIG and 9mm. It could also be done for one of the big-frame witnesses, so that you could should .45, too.
It can be done and they can function properly. Just pick the right barrel maker -- a firm that knows what its doing.
Mags may be a problem -- with feed lips having to be tweaked/gap narrowed in some cases. (Once tweaked, you probably can't use them with the larger rounds again without risking breaking the feed lips.)
Guys on the CZ forum are getting their orders in for 9mm barrels for their .40 CZ-40Bs...(for Bar-Sto's once-a-year CZ production run.)