I don't think it is cheaper to convert a wood fireplace to gas, than to leave the existing fireplace alone and put the gas one in another location. The main determination would be the site of the existing fireplace and potential alternate locations. Some locations might be better, due to where existing gas lines are run.
So, if you've got a better place for a gas fireplace, put it there. The benefit is that you keep the (valuable to some) wood burning fireplace.
In our home, we have a wood burning fireplace that we hardly ever use, for wood fires. Instead, we keep a portable charcoal grill inside the fireplace and use it for when the weather is cold, or if it's dark outside. The benefit is that it uses far less charcoal than the big outdoor grill.
We have a gas fireplace in a 3rd floor addition. I've attached a programmable thermostat and it easily heats the entire floor. The room it's in, I use as a home office and I keep the main, bedroom part of the addition, closed off during the day--when nobody is occupying that area.
Down in the basement, we have a wood stove, which won't heat the entire house, but takes some of the load off of the gas furnace. If the timing is right, I bring the portable grill to the basement, fill it up with live coals, bring it back to the wood fireplace and then grill. This saves me some time and charcoal.
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