In the 3duniverse forum, Dark Whisper hinted that when M3 is released there will be multiple UTC plug-ins released also. I bought the original texture convertor and it had some limitations, but when the Universal texture convertor came out, DW offered it is a limited time free upgrade to buyers of the old version. Having used both, I'd say the UTC is a big improvement. I'd say that if you've accumulated a lot of v1/v2 textures over the past few years, the UTC is well worth the price because it's gonna at least double the useability of your skins :D