The Package Conversion Manager tool Version 2 has been released on 1/13/2013. What is PCM? The PCM tool will help you to convert the classic packages and programs, which are there in SCCM 2007 environment and migrated to CM2012 using migration feature, to Applications and Deployment Types.
Download the PCM tool and Release Notes from here. Package Conversion Manager is an add-on to the ConfigMgr 2012 Console. Following are the know issues listed down in the release note. All these know issues are provided with workarounds.
1. Collection conversion with valid WQL: SMS_G_System_Class.InstallDate value will need to be updated on the Deployment Type.
2. Package with program dependent upon another program in the SAME package will not have that dependency converted.
3. Fix and Convert System.FormatException: The string was not recognized as a valid Date Time
4. On Windows XP an error occurs when running PCM stating there is a problem configuring PCM log file and that the path could not be found
5. PCM plugin is not visible in CM 2012 Console. Not able to see PCM tool, after successful MSI installation, in CM2012 console (I’ve seen this issue in some of the discussion forums). However, the plug is visible in SCCM CM 2012 console which is installed in C:drive default location.
More Details about PCM tool here