Yea, I wouldnt use that chassis for a conversion. Looks to be tuned specifically for a nitro setup.
BTW: I just got a set of skid plates from this guy for the Xrays and they look pretty nice. Thin and light, but you get 3 in a pack for $7.95 shipped so when they wear out you just toss it an put a new one on. They are very thin so they shouldn't drag much, and it looks like he has them just about all of the buggys out there. Havent really tested them youet, but they look to be pretty nice.
http://search.ebay.com/_W0QQsassZderacing2