Good luck. You may end up spending more money than just buying a pair of Cimarron Navy Conversions. You can look to Kirst or R&D. I believe the R&D will give you a more "authentic" conversion look and feel. Of course when I called them and talked to them, they mentioned doing the cylanders, adding a punch rod to knock out the empties, relining the barrel.
If your thrill is in the journey than you have picked the right course. If your thrill is in the destination, than you may want to consider using those Navys to shoot Frontiersman or Pistoleer if you are at an NCOWS match.