Conversion requires replacement or boring out of the barrel and replacement of the recoil spring. The front sight also will need replacing, but this in many cases will come with a replacement barrel. If you bore out the barrel and keep the original front sight the pistol will shoot a little bit high.
If you are talking about a Mauser re-intro, the barrel shank differs from pre-war Parabellums and is not interchangable.
You could probably work a horse trade for what it would cost to convert.
I might be among those you could work a horse trade with as I am among those crazy people who like the 7.65 mm.
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