All I can say is it was a very tough decision for me. It took me about a year to fully make the choice. I guess I can't say I never looked back because sometimes I wondered if I did the right thing but I just couldn't stand the look of 3 rail track. However, I did save a few 3 rail locomotives and some rolling stock to run on friends 3 rail layouts and I still have all my Lionel Postwar.
Like Bill above, I sold most of my 3 rail locomotives but some I had converted. It all depends on what is available and for how much. For instance, about ten years ago I picked up a Lionel Atlantic for $240 and since it only has two sets of drivers it was feasible to convert. On the other hand (I'm on a budget) even if I got a good deal on a 2nd hand Challenger or a Big Boy it would cost more or just as much to convert (adding in the original cost of the locomotive) than to just a buy a new one.
Hey, ya gotta do what ever makes you happy. I'm sure you've read about the pros and cons of 2 rail on various parts of this forum so I won't repeat them here.
Good luck and keep us posted.
