Conversion costs?

it depends on what you currently have, and how far you want to take things.
if you don't already have it, the class-legal racing sail is $462.
if you don't already have it, the class-legal FRP daggerboard is $357.
you can also add the cunningham and outhaul controls (a kit is available for ~$40).

I'm sure other racers will chime in on which upgrades are more important, and other things you might need/want to upgrade.
 
As tag already wrote, we don't know exactly how your 2005 'regular' Sunfish is equipped. If it has the longer (white) polyurethane foam daggerboard, there is no need to upgrade to the FRP board.
You may consider a longer tiller extension (because you want to sit upfront when going upwind and hiking), but again, that depends on what you currently have.
 

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