If I wanted to summarise the process even more, it is really just three steps:
1. Read: I read the module to get an idea of what it looks like as written. I take almost no notes and spend my effort on identifying the 1-2 Fronts and 3-4 Dangers.
2. Read + Write: I read through the module taking notes of NPCs, Monsters, Treasures, Traps, Moves and other salient details. This is almost no effort.
3. Write: I take my notes and write them up, adding Stakes, Front Description, Danger Types, Grim Portents, and Impending Dooms. I also identify or create any mechanics. This is the most effort but its still very little as its all focussed and most of the detail I am working with is already there.
The ease of conversion, thanks mostly to the focus of the prep, is great. I just have to resist in plotting too much in advance and instead focus on asking questions and understanding the antagonism. I also think that the way that the scenario as written takes up step 1 and half of step two, and the scenario as presented by me takes up half of step 2 and step 3, clearly shows the transition from the original module into my own scenario.