1- Conversion appears to be a non-trivial undertaking.
2- A consumer-level device like PB360 should have dictionaries that don't require tweaking or converting. If that means drm, so be it. (Other platforms with commercial dictionaries drm them too so its neither a competitive disadbantage or a crime against nature.)
It's not like you're *forced* to buy drm'ed *anything*.
3- The converter is out there for the people with the skill and inclination to do conversions.
(Judging by the very few available pre-converted dictionaries, they aren't many. Or they don't like to share.
)
But relying solely on the converter shuts out people who just want to use PB360 to read. The Lingvo dicts may not be useful to everybody but they'll be useful to a *lot* of people.
Hopefully.