Umm, the only Cox engines I would convert are the reed engines, and the lower power ones of those only. You must buy the Davis Killer Crank to keep the engine together. By the time you do all that, you should just buy a PAW .049 and be done with it.
If you must do a conversion, I prefer the MECOA head to the one from Davis.
Torque will increase, as you can step up to a 6x4 3-blade prop with a reed engine. Doing that, you lose rpm, but gain useable power (actual power drops, but the bigger prop pulls harder). Run time will improve roughly in proportion to the rpm drop, and even a slight bit better than that.
I have broken the crankshaft on every Tee Dee I tried to dieselize. 100% failure rate. Don't bother! A Medallion MIGHT survive, but I wouldn't want to risk mine as they are hard to come by.
PAW engines are pretty bulletproof (not, however, pavement proof, unfortunately). I have never damaged one by running, even with inadvertant over compressed runs.
I would be interested in hearing from anyone with experience dieselizing the Norvel or AP Wasp engines. Performance? Durability? Starting? Props used?