Welcome to 2R!
I made the the leap from 3R to 2R P:48 earlier this year and used Jay C for wheel/driver conversions (redone the motors/drive too - I'm building a switching layout and 0-5 SMPH is critical for me). I'm VERY happy with both the switch to 2R and Jay's conversions (yeah, that's a plug, because he's too gracious to mention it himself). Most conversions were done on 2R engines, but Jay did convert a 3R Sunset N&W 4-8-0 Mollie - it runs like a Swiss watch (as well it should - I'm sold on the Swiss Faulhaber motors) and the P:48 flanges which he machined are beautiful.
Wish I would have made the move to 2R P:48 earlier - should not have dropped so much $$$ on that middle rail. I still have a bunch of 3R locos - no interest in converting them as they are not worth it (and do not fit my modeling era). Will sell them off piecemeal or keep them for the grandkids.
As to rolling stock, have done all the conversions myself - it's great practice to hone my dormant modeling skills (was out of the hobby for 30+ years). Ended up buying a cheap yard goat (25 ton GE) from Rich Yoder at Indy a couple of weeks ago. It started life as On30 and Jay walked me thru the conversion over the phone - easy to re-gauge the wheelsets - I milled a new brass base plate under the chassis. I envision scratch building a brass loco at some point. The modeling aspect of the hobby is becoming a very enjoyable part of the hobby. Will need to learn a lot more matching skills, and will eventually get a lathe.
I encourage you to make the switch - but, at the end of the day you have to make the decision yourself and be happy with it. _Why_ are you considering making the jump to 2R - tired of the middle rail, want to do more modeling yourself, want to get into older brass, etc?
If you're reluctant, try it out by starting small - either convert your favorite engine or just buy a 2R version, lay down some track and run it. After watching it glide along that correct 2R track, you'll judge as to whether you made the right decision - if you decide to stick with 3R, at least you'll know the answer.
Good luck, and most of all, have fun.
...gregg
