Also, my understanding of the conversion process is that you get some kind of average based on the price over the three day conversion period

The conversion is not a guaranteed profit as the HBD stabilization fund also reacts to dips in the price. I play the conversion game simply because it supports the HBD peg.

BTW: I like your cost averaging technique. People who are doing what you are doing actually support HIVE as you are a buyer when the price of HIVE is weak. I would be doing the same, except I think the excessive interest hurts the platform.

I've been putting all of my excess HIVE into HIVE-Engine where it simply disappears.

!LOLZ